Business Loan from Banco Popular North America Given to No Industry Type Specified Company
Banco Popular North America is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brooklyn, New York was able to borrow $2,500 from Banco Popular North America. The SBA made the loan possible by guaranteeing $1,250 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
BROOKLYN, NY 11235
SBA Loan Lender
BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019
This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
516110 -
Loan Approval Date
2/16/2006
Loan Approval Gross Amount
$2,500
Loan Approval from the SBA
Of the total $2,500 loan amount, the SBA guaranteed $1,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Popular North America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
Related Links:
Angel Investors
Where to Get an SBA Loan in New York City, New York
SBA Lenders in New York