FirstBank Puerto Rico

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.

It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins are also welcome during business hours.

The bank operates Monday through Friday from 9:00 AM to 4:00 PM local time.

There are no fees for inquiries; however, loan processing and application fees may apply depending on the loan terms.

This bank primarily serves small businesses and entrepreneurs in Puerto Rico, but eligibility depends on meeting specific lending criteria.

A minimum personal credit score of 620 is generally required for guarantors.

The underwriting process typically takes between 30 to 45 days, depending on the completeness of your application and documentation.

Most banks keep weekday business hours and are closed on weekends, and FirstBank Puerto Rico typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call FirstBank Puerto Rico to confirm current weekend availability before you go.

FirstBank Puerto Rico is located in Puerto Rico — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for FirstBank Puerto Rico, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by FirstBank Puerto Rico itself, which runs its own lending under its own ownership. If you work at FirstBank Puerto Rico, you can claim this listing from this page to manage it.

The core details for FirstBank Puerto Rico — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with FirstBank Puerto Rico before applying. If you represent FirstBank Puerto Rico, claim this listing to keep its information up to date.

You can reach FirstBank Puerto Rico by phone at (787) 729-8230 or online at 1firstbank.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with FirstBank Puerto Rico before relying on them.

Based on its approved SBA loans, FirstBank Puerto Rico most often finances businesses in general retail, medical practices & clinics, restaurants & food service, wholesale & distribution, pharmacy & medical retail, and manufacturing. This reflects FirstBank Puerto Rico's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with FirstBank Puerto Rico which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether FirstBank Puerto Rico participates in SBA Express depends on its specific SBA lending authority. Contact FirstBank Puerto Rico and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. FirstBank Puerto Rico can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. FirstBank Puerto Rico's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask FirstBank Puerto Rico directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask FirstBank Puerto Rico what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask FirstBank Puerto Rico to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with FirstBank Puerto Rico to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. FirstBank Puerto Rico weighs this case by case under its own policy, so be upfront about your history and ask FirstBank Puerto Rico how it evaluates prior bankruptcies.