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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 > Groceries And Related Products Loan | ||||
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Bank SBA Loans
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Economic Devel Bank For Puerto R SBA Loan to Groceries And Related Products CompanySearching for a SBA loan? Here's one business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Juan, was able to borrow $75,000 from Economic Devel Bank For Puerto R. The SBA made the loan possible by guaranteeing $60,000 of this small business loan. SBA Loan Borrower COMPANY TYPE: GROCERIES AND RELATED PRODUCTS SBA Loan Lender ECONOMIC DEVEL BANK FOR PUERTO R This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5149 - Groceries and Related Products Loan Approval Date 8/24/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $60,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $75,000. How would you spend $75,000 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. Related Links:
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