Borrowing Money for Video Tape and Disc Rental

Looking for bank loans for video tape and disc rental? An SBA loan may be just what you've been looking for. This $1,655,300 video tape and disc rental loan was issued by a New York bank.

Getting a small business loan in Methuen (town Of), Massachusetts was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Banco Popular North America, operating out of New York City, New York. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE AND DISC RENTAL
METHUEN (TOWN OF), MA 01844

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

3/21/2006

Loan Approval Gross Amount

$1,655,300

Loan Approval from the SBA

Of the total $1,655,300 loan amount, the SBA guaranteed $1,241,475.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 81 employees. The loan application indicated that the loan would help generate 1 new job and retain 81 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $1,655,300. How would you spend $1,655,300 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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