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October 30, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Automobile And Motor Vehicle Merchant Wholesalers Loan | ||||
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Small Business Banks for Brooklyn Business Owners
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Financing for Automobile and Motor Vehicle Merchant WholesalersLooking for commercial loans for automobile and motor vehicle merchant wholesalers? Try the SBA. This $25,300 automobile and motor vehicle merchant wholesalers loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brooklyn, New York was able to borrow $25,300 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $12,650 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE MERCHANT WHOLESALERS SBA Loan Lender JPMORGAN CHASE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423110 - Automobile and Motor Vehicle Merchant Wholesalers Loan Approval Date 4/17/2007 Loan Approval Gross Amount $25,300 Loan Approval from the SBA Of the total $25,300 loan amount, the SBA guaranteed $12,650. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Jpmorgan Chase Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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. Related Links: Good Banks for Small Business in Houston, Texas
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