The Lounge Events Furniture Rental, Inc.
The Lounge Events Furniture Rental, Inc. is a general rental center located in Carolina, Puerto Rico, classified under NAICS code 532310. The business was approved for an SBA 504 loan of $1,612,000 on December 17, 2024, through PYMES Financial Partners, Inc. with Oriental Bank as the participating bank, and the SBA 504 loan financed real estate or equipment.
SBA 504 loan, approved Dec 17, 2024
$1,612,000 SBA portionCDC: PYMES Financial Partners, Inc.25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $1,612,000
- Bank portion
- $1,968,400
- Estimated project size
- $3,978,222 (estimated)
- Estimated owner equity
- $397,822 (estimated, about 10% of the project)
- Bank lender
- Oriental Bank, San Juan, PR
- Processing method
- 504 Basic: standard SBA processing through a CDC
- Term
- 25 years (300 months)
- Estimated maturity
- December 17, 2049 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Business type
- Corporation
- NAICS
- 532310, General Rental Centers
- Project location
- Carolina County, PR
- SBA district office
- Puerto Rico and Usvi District Office
- Congressional district
- PR-0
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 55% of expansion loans in General Rental Centers on this site.
- Average expansion loan in General Rental Centers: $2,404,091.
- Average expansion loan in Puerto Rico: $1,751,850.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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