Popular Small Business Capital offers express loans to meet the financial needs of today's small businesses. With loan sizes ranging from $150,000 to $350,000, small business owners can access capital quickly. Use of proceeds range from working capital to the acquisition of real estate, but most loans are used for shorter term business financing needs. |
Popular Small Business Capital offers the SBA 7(A) loan program. The SBA 7(A) program is the SBA's most popular and flexible business loan program providing financing for a variety of business purposes. Many small business borrowers have utilized this program to take advantage of loans providing a low down payment, long term financing and a flexible use of proceeds with minimal to no pre-payment penalties. Typical loan sizes range from $200,000 to $2,000,000. |
Popular Small Business Capital offers the SBA 504 loan financing program. The 504 loan program provides long term financing to small businesses that are seeking to acquire real estate, machinery and/or equipment.
A typical 504 project would include (2) loans. The 1st loan would come from Banco Popular North America and be secured with a 1st lien position on the assets being financed. The 2nd loan would come from a local Certified Development Corporation (CDC) and would be secured with a 2nd lien on the assets being financed.
Please note that Popular Small Business Capital has the necessary relationships with the local CDC's to participate in this financing structure. Though several loan structures exist, depending on the stage of business and property type being financed, a typical project is financed with 50% of the eligible costs coming from a Banco Popular North America 1st mortgage, 40% of the eligible project costs coming from the local CDC and 10% of the eligible costs coming from the borrowers' injections. Project sizes usually range from about $1,000,000 to $5,000,000 with some project costs exceeding $10,000,000. |
