Economic Development Bank for Puerto Rico
SBA 7(a) Lending Profile · FY 2020 analysis
Industry Focus
Top industries served by Economic Development Bank for Puerto Rico
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 48 | $15.4M | $322K | 11.3% |
| 713940 | Fitness and Recreational Sports Centers | 40 | $3.1M | $78K | 9.4% |
| 621310 | Offices of Chiropractors | 40 | $4.7M | $118K | 9.4% |
| 722511 | Full-Service Restaurants | 32 | $4.2M | $130K | 7.5% |
| 721110 | Hotels (except Casino Hotels) and Motels | 16 | $3.9M | $244K | 3.8% |
| 541940 | Veterinary Services | 16 | $4.8M | $297K | 3.8% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 16 | $1.5M | $92K | 3.8% |
| 812199 | Other Personal Care Services | 16 | $1.3M | $79K | 3.8% |
| 621340 | Offices of Physical, Occupational and Speech Therapists, and Audiologi | 16 | $1.7M | $104K | 3.8% |
| 445110 | Supermarkets and Other Grocery (except Convenience) Stores | 16 | $3.9M | $246K | 3.8% |
Geographic Distribution
SBA lending activity for Economic Development Bank for Puerto Rico by state
| State | Loans | Volume | Share |
|---|---|---|---|
| PR (PR) | 424 | $65.6M | 100.0% |
Why Choose Economic Development Bank for Puerto Rico?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 424 SBA loans approved, totaling $65.6M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Fitness and Recreational Sports Centers, Offices of Chiropractors
- ✓Competitive Terms: Average interest rate of 7.28% with flexible term lengths averaging 89 months
- ✓Loan Range: Loan sizes from $35K to $1.1M, with an average of $155K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in PR
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Economic Development Bank for Puerto Rico SBA lending
What types of businesses does Economic Development Bank for Puerto Rico typically finance?
Economic Development Bank for Puerto Rico specializes in SBA 7(a) lending to specific industries including limited-service restaurants, fitness and recreational sports centers, offices of chiropractors, full-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Economic Development Bank for Puerto Rico's typical SBA loan terms?
Economic Development Bank for Puerto Rico's SBA 7(a) loans typically feature an average interest rate of 7.28% and average term length of 89 months (approximately 7 years). Loan sizes range from $35K to $1.1M, with an average loan size of $155K.
Do I need a business valuation for a Economic Development Bank for Puerto Rico SBA loan?
Yes, Economic Development Bank for Puerto Rico typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Economic Development Bank for Puerto Rico compare to other SBA lenders?
Economic Development Bank for Puerto Rico has originated 424 SBA loans totaling $65.6M since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Economic Development Bank for Puerto Rico lend in?
Economic Development Bank for Puerto Rico provides SBA 7(a) financing with particularly strong presence in PR. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
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Professional valuations are often required for SBA loans over $250,000.
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