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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 > Family Clothing Stores Loan | ||||
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Who Lends Money to San Juan Entrepreneurs
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San Juan, Entrepreneur Gets a Small Business LoanSearching for a bank loan? This entrepreneur got a bank loan, provided by a bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in San Juan, by studying this loan to a local company, made back in 2000. Banks like Economic Devel Bank For Puerto R may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender ECONOMIC DEVEL BANK FOR PUERTO R This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5651 - Family Clothing Stores NAICS Code 448140 - Family Clothing Stores Loan Approval Date 3/10/2000 Loan Approval Gross Amount $143,000 Loan Approval from the SBA Of the total $143,000 loan amount, the SBA guaranteed $107,250. 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 16 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money 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 Economic Devel Bank For Puerto R 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:
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