What this loan delivers

Whether you are validating a minimum viable product, expanding a pilot, or building a small team, this loan is structured to provide the capital you need to execute critical milestones. It offers tailored loan amounts, a range of terms and amortization schedules, and the possibility of interest-only periods while you stabilize cash flow.

• Capital for growth: funding to hire talent, acquire equipment, or scale marketing.
• Flexible terms: terms adjusted to match the startup lifecycle and revenue profile.
• Personalized underwriting: assessments that weigh potential, not only historical financials.
• Advisory support: access to relationship managers who understand early-stage business dynamics.

Who should consider this loan

This solution is intended for founders who need non-dilutive capital to accelerate progress without giving up equity. Ideal candidates include early-stage companies with a clear business model, evidence of market traction, and a plan for revenue generation or a path to follow-on financing.

Typical use cases:

• Product development and manufacturing setup
• Marketing launches and customer acquisition
• Hiring key staff and building core capabilities
• Working capital to bridge to the next financing round

Key features and flexible options

First BanCorp structures startup loans with practical features that reflect the realities of young companies. Options include grace periods, interest-only payments during early ramp-up, and customizable collateral arrangements. Decisions take into account projected cash flow, market opportunity, founder experience, and realistic growth milestones.

• Customized loan amounts: sized to your business plan and milestone timeline.
• Repayment flexibility: interest-only start periods and graduated payments to match revenue ramps.
• Collateral and guarantees: tailored approaches that balance protection with startup constraints.
• Fast, transparent process: clear milestones and regular updates to keep your timeline on track.

Simple eligibility and evaluation

The evaluation process is designed to be straightforward, respectful of founders' time, and focused on potential. While traditional credit history is considered, emphasis is placed on realistic financial projections, evidence of demand, and the strength of the management team.

Founders are encouraged to demonstrate:

• Clear use of proceeds tied to measurable milestones
• Market validation via pilot customers, letters of intent, or early revenue
• A well-articulated financial plan showing runway and repayment strategy
• Relevant team experience and capabilities to execute

How to apply — a streamlined approach

The application pathway is designed to move quickly without sacrificing diligence. Expect a collaborative process:

1. Prepare a concise executive summary and business plan highlighting goals, milestones, and financials.
2. Submit basic documentation for assessment — incorporation records, financial statements, and projections.
3. Discuss loan structure options with a relationship manager to align terms with your growth plan.
4. Receive a tailored offer and proceed to closing once terms are agreeable and conditions are met.

Throughout, you will have a dedicated point of contact to answer questions and help present your case effectively.

Why choose First BanCorp for your startup financing

Choosing a lender is about more than just rates — it is about partnership. First BanCorp brings:

• Startup expertise: bankers who understand the contingency-driven nature of early ventures.
• Flexible structuring: creative loan solutions crafted to reduce friction and support growth.
• Transparent communication: clear expectations and no hidden surprises during underwriting or repayment.
• Post-closing support: ongoing advice to help manage cash flow and prepare for future funding events.

Common questions

Can I get financing if my company is pre-revenue?

Yes — eligibility is determined by the strength of your plan, evidence of market demand, founder experience, and repayment prospects. Many founders secure loans at early stages when they can demonstrate credible validation and a path to revenue.

Will I have to give up equity?

No. This is a debt product, not equity financing. It allows you to retain ownership while accessing the capital needed to grow.

How long does the process take?

Timelines vary by complexity but the application and decision process is structured to be efficient, with dedicated staff guiding you through each step.