BPOP Popular Inc

Banco Popular North America Launches No-Fee Small Business Loan Program 'Robust Offering to Provide Small Business Loan Solutions Guaranteed by the U.S. Small Business Administration' LOS ANGELES, March 17 /PRNewswire-FirstCall/ -- Banco Popular North America (BPNA) will announce tomorrow, March 18, 2005, at a joint meeting with the U.S. Small Business Administration (SBA) in Los Angeles, the launch of a comprehensive small business loan solutions program featuring loans under the SBA Express Program guidelines. This announcement was made at the Four Seasons Hotel in Newport Beach with Popular, Inc. (NASDAQ:BPOP) Chairman Richard L. Carrion and Hector Barreto, Administrator of the United States SBA, present. The Small Business loans can be made in amounts as low as $5,000 and as high as $150,000 with a guaranteed 48-hour decision process through a simple no-fee application. For loans qualifying under the SBA Express Program, Banco Popular will pay the SBA guarantee fee on behalf of its customers. In addition, approved loan applicants will have access to a free small business checking account, a debit card and a gift. The loans can be accessed through a line of credit, a business credit card or a term loan with a maturity of up to 7 years. The Small Business Loan Program will enable branch managers and business banking specialists at Banco Popular branches to serve business customers' needs at the branch level. The Small Business Loan Program is the result of close collaboration between Banco Popular and the Los Angeles District Office of the SBA. The Program is being launched first in Los Angeles, to be followed soon in all other markets where Banco Popular operates in North America. In support of this program, the L.A. SBA District Office and Banco Popular have agreed to sponsor monthly small business seminars for customers that will be held at Banco Popular branches in the Los Angeles and Orange County markets. Banco Popular also announced that it has been granted Preferred Lending Program (PLP) status in the following 31 District Offices: Augusta, Maine; Montpelier, Vermont; Concord, New Hampshire; Boston, Massachusetts; Providence, Rhode Island; Hartford, Connecticut; Buffalo, New York; Baltimore, Maryland; Washington, D.C.; Richmond, Virginia; Charlotte, North Carolina; Columbia, South Carolina; Indianapolis, Indiana; Philadelphia and Pittsburg, Pennsylvania; Louisville, Kentucky; Cleveland and Columbus, Ohio; Nashville, Tennessee; Kansas City and St. Louis, Missouri; Atlanta, Georgia; Las Vegas, Nevada; Phoenix, Arizona; Fresno, California; Detroit, Michigan; Minneapolis, Minnesota; Salt Lake City, Utah; Seattle and Spokane, Washington; and Portland, Oregon. "Partnering with the SBA allows Banco Popular to help small business owners make their dreams happen as we offer a full range of financial services to businesses in underserved markets," said Richard L. Carrion, Chairman and CEO of Popular Inc. "The Small Business Loan Program represents Banco Popular's effort to provide an integrated financial solution that better serves the businesses in all our communities at the branch level." "Banco Popular has been a steadfast and long-time supporter of the SBA ever since its origins in the U.S. over 40 years ago. We remain committed to our goal to be among the top 3 SBA lenders in the markets we serve," said Roberto R. Herencia, President of Banco Popular North America. "We expect The Small Business Loan Program to originate a minimum of 1,500 SBA loans in the 2006 SBA fiscal year. In the Los Angeles SBA district alone, we are committed to delivering over 150 loans before the end of the SBA fiscal year, September 30, 2005." BPNA has received numerous SBA recognitions over the past seven years; most recently, the bank secured the following: -- 1998 Pacesetter Award -- Recognizing excellence in lending to women and minority-owned businesses -- 2000 Hispanic American Advocacy Award -- Recognized by the Los Angeles SBA district office for the many loans to Latino-owned businesses -- 2002 Certificate of Appreciation -- Recognizing the help BPNA provided in making bridge loans to NYC small businesses, following the World Trade Center attack (9/11) -- 2003 Special Achievement Award -- Recognized by the NY SBA Districts for our longstanding support of the SBA mission in NY, where we granted 100 loans per year for 10 years in New York About Banco Popular Banco Popular North America is a subsidiary of Popular, Inc., with more than $44 billion in assets and is ranked among the country's 30 largest bank holding companies. BPNA operates 137 branches in California, Texas, Illinois, New York, New Jersey and Florida, as well as 114 financial services stores under the name of Popular Cash Express. Banco Popular was named one of the "100 Best Companies to Work for" in 2005 by FORTUNE Magazine and ranks among the top 10 Small Business Administration lenders in the country. Banco Popular was founded 112 years ago in the U.S. Commonwealth of Puerto Rico. For more information, visit http://www.bancopopular.com/ . Editors Note: Fact Sheet Available Upon Request DATASOURCE: Banco Popular North America CONTACT: Frances Del Valle, Euro RSCG Magnet, +1-212-367-6859, or , for Banco Popular North America Web site: http://www.popularinc.com/

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