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StartUp

  • StartUp Popular is a unique program designed exclusively for people who just started their business and to have useful tools to help them make their business a success. It is divided into three components:

    1. Financing - A business loan designed for businesses that have been established for a perior of two years or less and have begun to generate sales. Loan offered from $2,500 to $50,000 with additional benefits.
    2. Business Mentoring - Participants in the StartUp Popular program are entitled to two monthly hours of business coaching at no cost during the term of the funding (4 years).
    3. Networking - StartUp Popular organizes networking events where it invites all participants in order to provide development workshops. Networking events also provide a platform for customers to share experiences and identify potential strategic alliances.

  • The requirements to participate in StartUp Popular are:

    • Business with 2 years or less of established
    • Must have started generating sales
    • The business must not have current commercial debt with any financial institution

  • Those interested in participating in the program can access the popular.com/startup to find the program requirements and the online form. Then you should send the following documents by email to startup@popular.com:

    • Form COM-955 or COM-955A completed.
    • Balance Sheet for the last year or most recent operational period.
    • Income Statement for the last year or most recent operating period.
    • Projections, broken down month by month, of income and expenses with description of assumptions.
    • Resume of business team members

    The customer visiting a branch or calling the Commercial Support Center can also ask for a copy of COM-955 or COM-955A.

    If you dont have an accountant and do not know how to create a financial statements or projections of income and expenses you can access the StartUp Popular website and download the templates of these for the application purposes.

  • Once the person in charge of handling the participation forms verifies your information, will answer you by email if any document is missing and must be sent within a period not exceeding 30 working days.

  • StartUp Popular includes a wide variety of services and benefits for those who qualify for financing their business with loans from $2,500 to $50,000. Some of the unique offers of the Program, once the proposal and credit application is approved, include: lower payments during the first year of the term, business coaching for business development, commercial account (FlexiCuenta de Negocios®) and access to Mi Banco Comercial, both free of charge for one year. In addition, you can participate in networking events to connect with other entrepreneurs, investors and buyers.

    1. Pre-qualification: Make sure you meet the basic requirements of the program. If you comply with them, submit your application and the required documents to startup@popular.com. The three basic requirements to apply to the Popular StartUp program are:
      • Have a business with less than 2 years of operation
      • Have started generating sales
      • The requested capital may not be used to refinance existing debts
    2. Qualification: A Popular representative will visit businesses that meet the basic requirements of the program and have submitted a completed application. Following the visit, the Popular StartUp Committee will evaluate applications for qualification. As part of its evaluation, the Committee considers the business plan, use of funds, financial situation, previous experience of entrepreneurs, and potential for job creation, among others.
    3. Credit approval: After being qualified for the program by the StartUp Committee, you must submit the application for commercial credit through your preferred branch within 60 days of the qualification notification.

  • Each case is reviewed and analyzed in the order received. An email will be sent from the staff in charge of the program indicating if you qualified and the steps to follow. However, you can write to startup@popular.com to clarify any questions or visit your preferred branch and speak with the manager.

  • Yes. There are other types of financing available in case of particular needs, such as: line of credit or business credit card. However, the main purpose of the program is business loans.

  • Yes, the customer can visit the branch of their preference to apply for business credit under the regular process established.

  • Each case is reviewed and analyzed in the order received. An email will be sent from the staff in charge of the program indicating if you qualified and the steps to follow. However, you can write to startup@popular.com to clarify any questions or visit your preferred branch and speak with the manager.

  • You can access the website popular.com/startup where you will find the program requirements and the evaluation form to download. You can also visit the branch of your choice.

  • You can drop off the documents at one of our branches and they will be sent to the StartUp Popular Team.

  • StartUp Popular organizes networking events and invites all participants in order to provide development workshops and talks of interest. Networking events also provide a platform for customers to share experiences and identify potential strategic alliances.

  • Yes. Anyone who is interested in StartUp Popular and meets the program requirements to be evaluated can apply.

  • You can write directly to startup@popular.com for any questions about the StartUp Popular program.




Products and services offered by Banco Popular de Puerto Rico. Certain restrictions and charges apply. Subject to credit approval.