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May 16, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > San Juan, Business Loans > Economic Devel Bank For Puerto R San Juan Business Loans > Computer And Computer Software Stores Loan | ||||
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Good Banks for Hato Rey Businesses
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Borrowing Money for Computer and Software StoresLooking for bank loans for computer and software stores? Talk to a banker who works with the SBA. This $70,680 computer and software stores loan was issued by a bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hato Rey, was able to borrow $70,680 from Economic Devel Bank For Puerto R. The SBA made the loan possible by guaranteeing $56,544 of this small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER AND COMPUTER SOFTWARE STORES SBA Loan Lender ECONOMIC DEVEL BANK FOR PUERTO R This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5734 - Computer and Computer Software Stores NAICS Code 443120 - Computer and Software Stores Loan Approval Date 11/1/2000 Loan Approval Gross Amount $70,680 Loan Approval from the SBA Of the total $70,680 loan amount, the SBA guaranteed $56,544. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 13 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Realistic Debt Financing Options
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