Lenders › FirstBank Puerto Rico
7(a) lenderSanturce, Puerto RicoFDIC-insured bank180th of 2,184 by approvals
FirstBank Puerto Rico
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
FirstBank Puerto Rico, based in Santurce, Puerto Rico, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 214 of its 7(a) loans worth $46.9M in FY2021 to FY2025, which places it 180th of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 48 approvals totalling $8.9M, down 28% on FY2024 (67). FY2026 to 30 Jun 2026 adds 67 more.
The median approval was $100K, against $190K for the 7(a) program as a whole; 60.7% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 3 states and territories and 55 counties, led by Puerto Rico (97.7%), Florida (1.4%) and U.S. Virgin Islands (0.9%). The largest industry group was health care and social assistance at 22.4% of approvals, and 2.3% of approvals were to franchise businesses.
Of 836 disbursed loans approved in FY2010 to FY2021, SBA records 91 as charged off (10.9%), 641 as paid in full and 104 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is above it.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 67 | $15.9M | $50K | $237K | 1,324 |
| FY2025 | 48 | $8.9M | $51K | $185K | 636 |
| FY2024 | 67 | $17.2M | $127K | $256K | 1,031 |
| FY2023 | 55 | $13.6M | $102K | $248K | 888 |
| FY2022 | 20 | $3.2M | $100K | $161K | 323 |
| FY2021 | 24 | $4.1M | $143K | $170K | 332 |
| FY2020 | 21 | $6.8M | $110K | $323K | 375 |
| FY2019 | 40 | $9.1M | $50K | $228K | 640 |
| FY2018 | 33 | $4.2M | $94K | $127K | 530 |
| FY2017 | 56 | $6.8M | $36K | $122K | 727 |
| FY2016 | 93 | $16.3M | $45K | $176K | 1,210 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 243 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Puerto Rico | 7(a) program |
|---|---|---|---|
| Approvals in these years | 995 | 5,401 | 639,905 |
| Cancelled or never disbursed | 159 | 910 | 79,313 |
| Disbursed loans | 836 | 4,491 | 560,592 |
| Paid in full | 641 | 3,524 | 435,813 |
| Charged off | 91 | 275 | 36,891 |
| Still outstanding (status exempt from disclosure) | 104 | 692 | 87,888 |
| Charged off, share of disbursed loans | 10.9% | 6.1% | 6.6% |
| Dollars charged off, share of disbursed dollars | 3.0% | 2.3% | 2.5% |
| Dollars charged off | $2.7M | $11.8M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 20 | 6 | 0 | — | 2.8% |
| FY2020 | 16 | 6 | 0 | — | 4.0% |
| FY2019 | 36 | 20 | 0 | 0.0% | 6.7% |
| FY2018 | 26 | 17 | 0 | — | 7.9% |
| FY2017 | 48 | 34 | 3 | 6.3% | 7.7% |
| FY2016 | 80 | 66 | 5 | 6.3% | 7.2% |
| FY2015 | 139 | 117 | 10 | 7.2% | 6.9% |
| FY2014 | 103 | 81 | 14 | 13.6% | 6.4% |
| FY2013 | 104 | 83 | 17 | 16.3% | 6.0% |
| FY2012 | 75 | 59 | 13 | 17.3% | 6.3% |
| FY2011 | 90 | 71 | 14 | 15.6% | 6.9% |
| FY2010 | 99 | 81 | 15 | 15.2% | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $100K | $190K |
| Average approval | $219K | $518K |
| Approvals of $150,000 or less | 60.7% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 37.9% | 34.3% |
| Approvals to franchise businesses | 2.3% | 11.5% |
| Jobs supported per approval, as reported | 15.0 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 10.9% | 6.6% |
States served
| # | State of the business (3 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Puerto Rico | 209 | $45.2M | 97.7% | |
| 2 | Florida | 3 | $1.6M | 1.4% | |
| 3 | U.S. Virgin Islands | 2 | — | 0.9% |
In Puerto Rico the lender accounts for 8.4% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (55 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | San Juan Municipio, PR | 51 | $15.4M | 23.8% | |
| 2 | Bayamon Municipio, PR | 22 | $3.9M | 10.3% | |
| 3 | Carolina Municipio, PR | 20 | $2.8M | 9.3% | |
| 4 | Guaynabo Municipio, PR | 9 | $2.0M | 4.2% | |
| 5 | Caguas Municipio, PR | 9 | $1.0M | 4.2% | |
| 6 | Guayama Municipio, PR | 8 | $2.5M | 3.7% | |
| 7 | Toa Baja Municipio, PR | 8 | $1.8M | 3.7% | |
| 8 | Ponce Municipio, PR | 5 | $2.4M | 2.3% | |
| 9 | Vega Alta Municipio, PR | 5 | $877K | 2.3% | |
| 10 | Trujillo Alto Municipio, PR | 5 | $468K | 2.3% | |
| 11 | Manati Municipio, PR | 4 | $820K | 1.9% | |
| 12 | Humacao Municipio, PR | 4 | $508K | 1.9% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Health Care and Social Assistance | 48 | 22.4% | |
| 2 | Accommodation and Food Services | 32 | 15.0% | |
| 3 | Other Services (except Public Administration) | 29 | 13.6% | |
| 4 | Retail Trade | 26 | 12.1% | |
| 5 | Construction | 22 | 10.3% | |
| 6 | Professional, Scientific, and Technical Services | 16 | 7.5% | |
| 7 | Wholesale Trade | 16 | 7.5% | |
| 8 | Manufacturing | 12 | 5.6% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 25 | 11.7% | |
| 2 | Offices of PhysiciansNAICS 6211 | 14 | 6.5% | |
| 3 | Offices of Other Health PractitionersNAICS 6213 | 11 | 5.1% | |
| 4 | Personal Care ServicesNAICS 8121 | 11 | 5.1% | |
| 5 | Building Equipment ContractorsNAICS 2382 | 9 | 4.2% | |
| 6 | Drycleaning and Laundry ServicesNAICS 8123 | 8 | 3.7% | |
| 7 | Grocery StoresNAICS 4451 | 8 | 3.7% | |
| 8 | Offices of DentistsNAICS 6212 | 5 | 2.3% | |
| 9 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 5 | 2.3% | |
| 10 | Automotive Repair and MaintenanceNAICS 8111 | 5 | 2.3% |
Approval sizes
- $50,000 or less34.6%74
- $50,001 to $150,00026.2%56
- $150,001 to $350,00024.3%52
- $350,001 to $1 million12.6%27
- $1 million to $2 million1.4%3
- Over $2 million0.9%2
Loan terms
- 5 years or less45.3%97
- Over 5 to 10 years27.6%59
- Over 10 to 20 years23.4%50
- Over 20 years3.7%8
Age of the businesses
- Existing, more than 2 years old60.7%130
- New business, 2 years or less21.5%46
- Startup, loan funds will open the business16.4%35
- Change of ownership1.4%3
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 92 | 43.0% | |
| 2 | SBA Express Program | 92 | 43.0% | |
| 3 | 7a General | 22 | 10.3% | |
| 4 | Contract CAPLine | 6 | 2.8% | |
| 5 | Working Capital CAPLine | 1 | 0.5% | |
| 6 | Export Express | 1 | 0.5% |
Franchise share
5 of 214 approvals in FY2021–FY2025 (2.3%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | ImageFIRST Healthcare Laundry Specialists | 3 | 1.4% | |
| 2 | Marco's Pizza | 1 | 0.5% | |
| 3 | Martin's Bbq | 1 | 0.5% |
Questions and answers
How many SBA loans does FirstBank Puerto Rico make?
SBA approved 48 7(a) loans through FirstBank Puerto Rico in FY2025, worth $8.9M, and 214 over FY2021 to FY2025. That ranks 180th of 2,184 active 7(a) lenders by number of approvals.
How large are FirstBank Puerto Rico's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $100K and the average $219K. The program-wide median was $190K.
What is FirstBank Puerto Rico's charge-off rate?
Of 836 disbursed loans approved in FY2010 to FY2021, SBA records 91 as charged off (10.9%), 641 as paid in full and 104 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is above it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does FirstBank Puerto Rico lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (25); offices of physicians (14); offices of other health practitioners (11); personal care services (11).
Where does FirstBank Puerto Rico make SBA loans?
In 3 states and territories. Puerto Rico 209, Florida 3, U.S. Virgin Islands 2. In Puerto Rico it accounts for 8.4% of all 7(a) approvals.
Is FirstBank Puerto Rico's SBA lending rising?
Approvals in the three latest complete fiscal years total 170, against 65 in the three before: rising (+162%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error