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Delancey Street is a premier small business lender, based out of NYC, that has helped broker 100's of millions in business loans. They are a pro, at making sure you get all of your financing needs satisfied.
- Over $200 million in funding secured
- Can handle low risk credit
- Handles all industries
- Handles high risk and low risk loans
In today’s world, entrepreneurship is seeing a resurgence. More and more people are leaving their 9-5 jobs to start their own small businesses. According to Forbes, “small businesses account for 99.7% of all employer firms, they generate 64% of new jobs created in the United States.” Indeed, small businesses are crucial not only to the US economy but also to the well-being of local communities. However, starting and growing your own business can be an expensive venture. This is where San Juan Small Business Loans comes in.
What are San Juan Small Business Loans?
San Juan Small Business Loans is an organization that provides financial assistance to small business owners in Puerto Rico. Their mission is to empower small businesses by providing them with the necessary funding to start, sustain, and grow their operations. Started in 2006, San Juan Small Business Loans has since disbursed more than $100 million in loans to small business owners in Puerto Rico.
Why Are Small Business Loans Important?
Small business loans can mean the difference between a dream becoming a reality or staying just that – a dream. A small business loan can provide the funds needed to buy equipment and inventory, hire employees, expand into new markets, and make other capital improvements. Without access to financing, many small business owners would not be able to get their enterprises off the ground, let alone scale up.
The Benefits Of San Juan Small Business Loans
1. Easy Application Process
One of the great things about San Juan Small Business Loans is that their application process is straightforward and easy to follow. They offer loan applications in both English and Spanish, making it accessible to many entrepreneurs. Furthermore, they provide support throughout the application process, ensuring that applicants understand the requirements and necessary documents.
2. Flexible Amounts
San Juan Small Business Loans offers a wide range of loan amounts, starting at $5000 and going up to $500,000. This flexibility allows businesses to obtain the exact amount they need, without being forced to borrow an amount too large or too small for their business.
3. Low-Interest Rates
San Juan Small Business Loans offers some of the most competitive interest rates in the lending industry. In addition, they don’t demand initial fees like many other lenders, which can save a lot of money for small business owners.
4. Focus on Local Communities
San Juan Small Business Loans actively seeks to support Puerto Rican entrepreneurs. Their mission is to strengthen the local economy through small business development by providing capital and necessary resources. Due to this, they are very familiar with Puerto Rico’s unique economic landscape, making it easier for them to understand how certain businesses operate and their needs.
What Types of Loans do San Juan Small Business Loans Offer?
The Startup Loan Program
The Startup Loan Program is geared towards entrepreneurs who are just starting their business ventures. These loans typically range between $5,000 and $25,000 and cater to businesses that have been operating for two years or less. The fundings are repaid within 10 years using a fixed interest rate chosen during application.
Small Business Administration (SBA) Loans
San Juan Small Business Loans has teamed up with the Small Business Administration (SBA) to offer guaranteed loans ranging from $50,000 to $500,000. SBA loans work differently than traditional loans because the loans are backed by the government, enabling sellers to give lower interest rates to borrowers. Consequently, San Juan Small Business Loans is uniquely positioned to provide affordable loans to small businesses that may not qualify for traditional banking loans.
MICRO-Loan Program
Another loan program offered by San Juan Small Business Loans is the Microloan Program. This program is for businesses seeking tiny amounts of funding, ranging from $5,000 to $50,000. This loan suits small companies with microfinancing needs or businesses that do not meet the particular credit requirements set by traditional lenders.
The Verdict: Why San Juan Small Business Loans Are An Excellent Choice For Small Businesses
San Juan Small Business Loans is an excellent resource for entrepreneurs and small business owners on the island of Puerto Rico. They offer flexible loan products with low interest rates which can help start-ups and already expanding entities alike in growing their operations. The application process is simple, and funding decisions are typically made quickly. The organization’s focus on local communities ensure they provide personalized service to clients in a way that understands the unique economic landscape of Puerto Rico – this is something that most conventional financial institutions lack.
Testimonials From Recent Customers:
| Name | Location | Their thoughts about San Juan Business Loans Services |
|---|---|---|
| Brianna Velasquez | Mayaguez | “I got my loan within only a couple of days after applying with San Juan Small Business Loans. I don’t believe I would have been able to get started if it wasn’t for them.” |
| Jose Diaz | Ponce | “Without the assistance of San Juan Small Business Loans, we wouldn’t have been able to upgrade our internet capabilities. This increased out net operating income many folds” |
| Yaretza Rios | San Jaun | “What attracted me to San Juan Small Business Loans was the fact that they’re local. In other words, there were no language barriers to overcome and the information provided was relevant to my city.” |
Are Small Business Loans Right For Everyone?
Small business loans may not be right for every entrepreneur. Borrowing money always comes with risks, and it’s essential to understand those risks before signing a loan agreement. There may be other funding alternatives available that might better suit particular industry sectors. Therefore, business advisors recommend performing comprehensive research into what is ideal for your particular company.
Counterarguments: Why Some Entrepreneurs Might Prefer Self-Financing Over A Loan
One argument made against small business loans is that some entrepreneurs feel they can achieve better results by avoiding debt entirely. Although small business loans can provide businesses with needed capital, there are interest rates attached. By utilizing conventional methods of financing such as investors or self-financing – through personal savings, 401k funds or using credit card limits responsibly- some entrepreneurs find these options more palatable over borrowing from financial institutions.
Statistics About Debt Financing
A recent Federal Reserve Bank survey shows that approximately 70% of SMEs use debt financing to either start their new venture or sustain an already established one. Additionally, nearly 32% of all micro-businesses finance themselves from family/friends rather than taking out loans from traditional banks or credit unions. Therefore, it’s up to each individual entrepreneur to assess whether a small business loan would be appropriate for his or her business.
Final Thoughts: San Juan Small Business Loans Are An Asset To The Local Entrepreneurial Ecosystem
In conclusion, San Juan Small Business Loans is an incredible resource for Puerto Rican entrepreneurs. Their focus on supporting local businesses and communities has long been recognized, and their competitive loan products and services have profoundly impacted many small businesses across Puerto Rico. If you’re starting your own venture or looking to expand your existing product or service line, San Juan Small Business Loans is worth considering. Just ensure that you research the funding opportunities that match the plans of your unique entrepreneurial vision.
References:
Forbes
https://www.forbes.com/sites/nicoleleinbachreyhle/2018/04/05/the-state-of-small-business-in-america-and-what-it-means-for-your-startup/#668534502f9a
Federal Reserve Bank Survey
https://www.newyorkfed.org/smallbusiness/small-business-credit-survey-employer-firms-2020
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