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Corp. Financiamiento Empresarial del Comercio y Comunidades (COFECC)

Corp. Financiamiento Empresarial del Comercio y Comunidades (COFECC)
Corp. Financiamiento Empresarial del Comercio y Comunidades (COFECC)

Description

Specializing in commercial banking services, this institution offers tailored financing solutions for small and medium-sized businesses. They provide a range of SBA loan programs, including the popular 7(a) and 504 options, to support business growth, real estate acquisitions, and working capital needs. With a focus on the Puerto Rico region, they serve local entrepreneurs and established companies alike, helping them access capital with flexible terms and competitive rates. Their experienced team guides clients through the application process, ensuring a smooth experience from initial inquiry to loan closing. Whether you’re seeking funding for expansion, equipment purchase, or real estate development, this lender is equipped to meet your needs with personalized service and industry expertise. They also support microloans and express loan programs, making financing accessible for startups and small businesses. Their commitment to fostering economic development in Puerto Rico is reflected in their dedicated customer support and comprehensive loan offerings, making them a reliable partner for your business financing goals.

Location

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Q&A

Lender Type
Commercial Bank
Google Rating
5
Google Review Count
4
Question 1
What is this place and what can I find here?
Answer 1
This is a commercial bank offering SBA and business financing solutions. You can find information about loan programs, application processes, and support for small businesses in Puerto Rico.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It is recommended to schedule an appointment to ensure dedicated assistance, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates from 9:00 AM to 4:00 PM, Monday through Friday.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for accessing basic information; loan application fees and closing costs vary depending on the loan type.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves residents and businesses in Puerto Rico, but some services may be available to out-of-region applicants.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 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 loan complexity and completeness of documentation.
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