Banco Popular North America SBA Loan to Home Mortgage

Banco 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 Florida entrepreneur who tapped into the power of SBA loans.

Home Mortgage received financial assistance through the SBA's lending programs back in 2002. 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 $283,500 to help grow their Miami, Florida business.

SBA Loan Borrower

HOME MORTGAGE
13155 SW 42ST ST 107
MIAMI, FL 33175

SBA Loan Lender

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

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

531210 - Offices of Real Estate Agents and Brokers

Loan Approval Date

11/29/2002

Loan Approval Gross Amount

$283,500

Loan Approval from the SBA

Of the total $283,500 loan amount, the SBA guaranteed $212,625.

More Information on This SBA Loan

The borrower, Home Mortgage, borrowed this money for a new business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 19 employees. The loan application indicated that the loan would help retain 19 existing jobs. This loan was paid in full, and was closed out on 6/3/2005.

Start the Process for Getting an SBA Loan Today!

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Banco Popular North America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in New York City, New York

Getting an SBA Loan in New York

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