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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Car Washes Loan | ||||
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Colleyville, Texas Bank Loan
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Colleyville, Texas Entrepreneur Gets a Bank LoanWould a Texas business loan help your company expand? If so, you may want to talk with this Texas bank, which offers SBA loans to Texas entrepreneurs. Getting a small business loan in Colleyville, Texas was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Jpmorgan Chase Bank. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender JPMORGAN CHASE BANK This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 7/20/2001 Loan Approval Gross Amount $305,000 Loan Approval from the SBA Of the total $305,000 loan amount, the SBA guaranteed $228,750. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business 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. 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: Good Banks for Small Business in Houston, Texas
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