BELLA INTERNATIONAL & ESTEVES 30
PPP Loan approved Apr 12, 2020 through FirstBank Puerto Rico
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $3,892,002.00 | 87.8% |
| Rent / Lease | $541,530.50 | 12.2% |
About This Loan
BELLA INTERNATIONAL & ESTEVES 30 received a PPP loan of $4,433,533 approved on Apr 12, 2020. The loan was originated by FirstBank Puerto Rico.
BELLA INTERNATIONAL & ESTEVES 30 is a corporation located in SAN JUAN, Puerto Rico. At the time of the application, the business was described as "unanswered".
The business operates in the Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers industry (NAICS 423110), part of the Wholesale Trade sector of the economy. The applicant reported 500 jobs as retained through this loan.
The SBA forgave $4,486,119.12 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 24, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $3,892,002 to payroll, $541,531 to rent or lease obligations. The payroll component represents 87.8% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Puerto Rico, visit the Puerto Rico page. To compare this loan with others in the same industry, see the Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers industry page.