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May 17, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > New York City, Business Loans > Banco Popular North America New York City Business Loans > Construction And Mining Machinery And Equipment Merchant Loan | ||||
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Utah Business Loan from Banco Popular North America
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Business Loan from Banco Popular North America Given to Construction And Mining Machinery And Equipment Merchant CompanyBanco 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 Utah entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2008. They applied for an SBA loan with Banco Popular North America, out of New York City, New York. The loan was granted and they received $1,780,000 to help grow their Mapleton, Utah business. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT MERCHANT SBA Loan Lender BANCO POPULAR NORTH AMERICA This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423810 - Construction and Mining Machinery and Equipment Merchant Loan Approval Date 1/24/2008 Loan Approval Gross Amount $1,780,000 Loan Approval from the SBA Of the total $1,780,000 loan amount, the SBA guaranteed $1,335,000. 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 25 employees. The SBA loan application for the borrower indicated that the loan would help retain 25 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,780,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Determining Proper Capital Structure for a Business Best Banks in New York City, New York
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