Lender · SBA 7(a) record
FirstBank Puerto Rico
PR · lends in 3 states · 1,018 SBA loans since 2010, 182 in the last five years.
How fast they approve. FirstBank Puerto Rico made 41% of its recent 7(a) loans under full Preferred Lender (PLP) authority and another 49% through SBA Express — both let it approve without waiting on the SBA. Larger, more complex deals lean on the PLP share. Why approval speed comes down to the lender.
What stands out about FirstBank Puerto Rico
vs every other SBA lenderFirstBank Puerto Rico lives at the small end. Its median loan is just $100k, well under the $347k typical of SBA lenders — one of the banks genuinely willing to write small.
It leans into one industry. 21% of FirstBank Puerto Rico's loans go to offices of dentists — roughly 2× the share you would expect, so it clearly knows that business.
FirstBank Puerto Rico is startup-heavy. 74% of its loans are startups, well above the norm — a good sign if that is your deal.
This read is built from 182 funded 7(a) loans over the last five fiscal years; outside its core states the sample thins out, so weigh the rest accordingly.
Will they talk to you?
loan sizes fundedThe spread of loan sizes tells you where this lender is comfortable. Ask for something far outside it and expect friction.
Do they fund businesses like yours?
last 5 yearsA lender who already knows your industry asks better questions and closes faster. One who doesn't will treat your file as an education.
Middle of the road on risk
1.57% charged off, close to the 2.11% across all SBA lending. Neither unusually tight nor unusually loose.
What rate people got
median markup over primeThe median borrower here paid prime + 3.28%. Compare that against what you have been quoted — the markup is the negotiable part, and most borrowers never try.
Their loans, year by year
cumulative % of dollars charged off| Approved | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | Yr 6 | Yr 7 | Yr 8 | Yr 9 | Yr 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2010 | 0.0 | 0.3 | 0.6 | 1.7 | 1.9 | 2.5 | 4.2 | 6.1 | 6.5 | 6.5 |
| 2011 | 0.0 | 0.0 | 0.2 | 0.9 | 2.0 | 2.9 | 2.9 | 3.5 | 4.5 | 4.5 |
| 2012 | 0.0 | 0.3 | 1.1 | 1.4 | 1.4 | 1.6 | 2.5 | 2.6 | 2.6 | 5.0 |
| 2013 | 0.0 | 0.0 | 0.7 | 1.5 | 1.8 | 3.0 | 3.2 | 3.2 | 3.2 | 3.2 |
| 2014 | 0.0 | 0.0 | 1.0 | 2.8 | 5.5 | 7.3 | 7.5 | 7.5 | 7.5 | 7.5 |
| 2015 | 0.0 | 0.0 | 0.6 | 0.7 | 1.1 | 1.1 | 1.1 | 1.2 | 1.2 | 1.2 |
| 2016 | 0.0 | 0.2 | 0.4 | 1.2 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | · |
| 2017 | 0.0 | 0.0 | 0.4 | 0.6 | 0.6 | 0.7 | 0.7 | 0.7 | · | · |
| 2018 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | · | · | · |
| 2019 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | · | · | · | · |
| 2021 | 0.0 | 0.0 | 0.0 | 0.0 | · | · | · | · | · | · |
| 2023 | 0.0 | 0.0 | · | · | · | · | · | · | · | · |
| 2024 | 0.0 | · | · | · | · | · | · | · | · | · |
| 2025 | · | · | · | · | · | · | · | · | · | · |
| 2026 | · | · | · | · | · | · | · | · | · | · |
Each row is one year's lending. Read down a column to compare years at the same age — that is the only fair comparison, because losses take three to five years to appear and a fast-growing lender always looks clean on a raw average.
What this page cannot tell you
Federal records show what was approved, not how long it took, how the bank communicated, or whether your loan officer returned calls. Ask any lender directly: are you a preferred lender, how many deals like mine did you close last year, and who underwrites it.
Check your eligibility first → Decode what they say to you →
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Common questions
Does FirstBank Puerto Rico make SBA startup and acquisition loans?
Yes — its recent SBA 7(a) record includes 26 startups. If your deal is one of these, it has funded that kind of loan many times before. See how it ranks for your exact deal.
What is the smallest SBA loan FirstBank Puerto Rico will make?
Its practical minimum — the 5th percentile of what it has actually funded — is about $14,430, and the typical (median) FirstBank Puerto Rico loan is $100,000. If your loan is well below its practical minimum, it is unlikely to be interested however strong your file.
What interest rate do FirstBank Puerto Rico SBA borrowers get?
On variable-rate loans, recent FirstBank Puerto Rico borrowers paid a median of prime + 3.28%. The markup over prime is the negotiable part of any SBA quote. Check a rate you have been quoted.
What states does FirstBank Puerto Rico lend in?
Most of FirstBank Puerto Rico's recent SBA lending is concentrated in Puerto Rico, Florida. Compare lenders by state.