Banco Popular de Puerto Rico
Description
Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses through various loan programs. Whether you’re seeking funding for expansion, equipment purchase, or working capital, they provide tailored solutions to meet your needs. Their expertise includes SBA 7(a) loans, which are ideal for a wide range of business purposes, and they have a strong track record of approving substantial loan amounts, with approvals reaching up to $108,000. The bank is committed to fostering growth within the local community and provides personalized service to help entrepreneurs navigate the lending process effectively.
Location
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Q&A
Lender Type
Commercial Bank
Google Rating
3.8
Google Review Count
30
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution offering SBA loan programs and small business financing solutions. You can find assistance with loan applications, financial guidance, and personalized support for your business needs.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins may be accommodated depending on availability.
Question 3
What are the hours of operation?
Answer 3
The bank"s typical hours are Monday through Friday from 9:00 AM to 4:00 PM, but it"s best to confirm with the branch directly.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for visiting the branch; however, loan application and processing fees may apply depending on the services utilized.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and small business owners within Puerto Rico, but some services may be available to non-residents with qualifying criteria.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 640 is generally preferred for loan approval, but other factors are also considered.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.