Jpmorgan Chase Bank SBA Loan to Outpatient Mental Health And Substance Abuse Centers Company

An SBA loan from Jpmorgan Chase Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Auburn, New York business owner got a $50,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Auburn, New York was able to borrow $50,000 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $25,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: OUTPATIENT MENTAL HEALTH AND SUBSTANCE ABUSE CENTERS
AUBURN, NY 13021

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

621420 - Outpatient Mental Health and Substance Abuse Centers

Loan Approval Date

5/12/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help generate 1 new job and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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