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How does the StartUp Popular approval process work?

A. 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 for the StartUp Popular 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.

B. 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.

C. 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.