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Cooperativa de Ahorro y Crdito de Arecibo (COOPACA)

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Description

Providing comprehensive financial services, this institution specializes in SBA loans and small business financing solutions. It offers tailored lending options to meet the needs of local entrepreneurs and business owners, focusing on supporting economic growth within the community. With a history of SBA program participation, it is equipped to assist clients with various funding requirements, including working capital, expansion, and equipment purchases. The bank emphasizes personalized service and flexible lending criteria to help small businesses thrive. Its strategic focus on SBA loans makes it a reliable partner for startups and established enterprises seeking accessible financing options. The institution’s commitment to supporting small business development is reflected in its active participation in SBA programs, including the 7A loan program, which is ideal for a wide range of business needs. Whether you’re seeking a loan for inventory, real estate, or operational costs, this bank provides expert guidance and competitive terms to facilitate your growth objectives.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.4
Google Review Count
42
Question 1
What is this place and what can I find here?
Answer 1
This is a financial institution that offers SBA loan programs and small business financing solutions designed to support local entrepreneurs and business owners. You can find personalized lending options, expert guidance, and resources to help your business grow and succeed.
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-in consultations may also be available during business hours. Contact the branch in advance for the best experience.
Question 3
What are the hours of operation?
Answer 3
The branch operates from Monday to Friday, 9:00 AM to 4:00 PM. Hours may vary on holidays or special occasions, so it’s best to call ahead.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for simply visiting or consulting with the bank; however, loan processing and service fees may apply depending on the specific financing arrangement.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This institution primarily serves local residents and business owners within the community, but eligibility requirements depend on the specific loan program and qualification criteria.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
Typically, a minimum personal credit score of 650 is required, though higher scores may improve loan approval chances.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process generally takes between 2 to 4 weeks, depending on the complexity of the loan and completeness of the application.
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