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FirstBank Puerto Rico

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Description

FirstBank Puerto Rico offers comprehensive SBA loan services tailored to meet the needs of small businesses seeking financial support. With a focus on supporting local entrepreneurs, the bank provides various SBA loan programs, including the popular 7(a) loan program, to facilitate business growth, working capital, and equipment financing. Located in Santurce, PR, the bank is committed to helping businesses access capital efficiently and reliably. Their experienced lending team guides clients through the application process, ensuring clarity and support at every step. The bank specializes in serving a diverse range of industries, with particular strength in sectors like manufacturing and services. Whether you’re a startup or an established business, FirstBank Puerto Rico aims to provide flexible lending options to help you succeed. They also offer personalized consultation to determine the best financing solutions for your specific needs, making them a trusted partner for small business growth in Puerto Rico.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.8
Google Review Count
295
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank that offers SBA loan programs to small businesses in Puerto Rico. You can find assistance with financing options like the 7(a) loan program, along with personalized support from experienced lenders.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 4:00 PM local time.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for inquiries; however, loan processing and application fees may apply depending on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small businesses and entrepreneurs in Puerto Rico, but eligibility depends on meeting specific lending criteria.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 620 is generally required for guarantors.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 45 days, depending on the completeness of your application and documentation.
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