Chicago, IL Entrepreneur Gets SBA Loan to Buy Mail Boxes Etc. Usa Franchise

Need money to buy a Mail Boxes Etc. Usa franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mail Boxes Etc. Usa franchise shouldn't be too tough. In 2002, Jpmorgan Chase Bank issued an SBA franchise loan to an entrepreneur in Chicago, Illinois. Because Mail Boxes Etc. Usa was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

MAIL BOXES ETC
CHICAGO, IL 60175

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

7/11/2002

Loan Approval Gross Amount

$196,900

Loan Approval from the SBA

Of the total $196,900 loan amount, the SBA guaranteed $147,675.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mail Boxes Etc. Usa franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

Related Links:

Mailboxes Etc.

Small Business Credit Cards

Best Banks for Small Business in Houston, Texas

Getting an SBA Loan in Texas