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December 23, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Freight Transportation Arrangement Loan | ||||
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Good Banks for Cincinnati Businesses
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Freight Transportation Arrangement Commercial LoansLooking for commercial loans for freight transportation arrangement? An SBA loan may be just what you've been looking for. This $50,000 freight transportation arrangement loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cincinnati, Ohio was able to borrow $50,000 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $25,000 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: FREIGHT TRANSPORTATION ARRANGEMENT 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 488510 - Freight Transportation Arrangement Loan Approval Date 11/7/2007 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 22 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 22 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Jpmorgan Chase Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Jpmorgan Chase Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Find an SBA Lender in Houston, Texas
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