Business Loan from Jpmorgan Chase Bank Given to Drilling Oil And Gas Wells Company
Jpmorgan Chase Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.
This growing company knew how to go about getting a business bank loan. Based in Baytown, Texas, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas.
SBA Loan Borrower
COMPANY TYPE: DRILLING OIL AND GAS WELLS
BAYTOWN, TX 77521
SBA Loan Lender
JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002
The lender provided this SBA 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
213111 - Drilling Oil and Gas Wells
Loan Approval Date
2/2/2007
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loans provide money to small business owners for working capital for other expenses.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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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