Financing programs for your business.

Maybe you think that getting a loan for your business is too complicated. Below is an explanation, in summary form, of the financing options available to you. How it works: the SBA financing programs are used by the bank to grant commercial loans to small business owners on the best possible terms and conditions. The SBA gives the bank a guarantee on a percentage of the total amount disbursed, which can be up to a maximum of 90%. Financing options The most popular programs are: Express and 7A.  The table shows the main facts about both programs: In addition to the loan guarantee program, the SBA, along with banks, offers loans for the purchase, improvement or construction of fixed assets. This option is known as Program 504. A 504 project usually has three components: the Bank provides 50% or less of the financing; a CDC provides 40% of the financing through a debenture (a bond guaranteed 100% by the SBA); and the client provides a minimum of 10% of the financing. The Certified Development Companies (CDC) have been approved by the SBA to participate in Program 504. Your loan at Banco Popular Banco Popular is certified in the SBA’s Preferred Lender Program (PLP) and as an Express Lender; and provides the majority of loans to small and medium-size businesses in Puerto Rico and the Virgin Islands. This agency is dedicated to helping, providing guidance and protecting small and medium-size businesses in the United States, the Virgin Islands and Puerto Rico Banco Popular has received the Platinum Award, the highest honor granted by the SBA, for the past 15 years. To learn more about our products and to receive complete guidance on the financing options available to you, access here or call the Business Banking Center at 787-756-3939. We will help you make your business dreams a reality. Financing products, either through credit cards, lines of credit or loans, are subject to credit approval.