Jpmorgan Chase Bank Provides SBA Loan to Buy Tutor Time Franchise

Need a loan to invest in a Tutor Time franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

Tutor Time franchise loans are available to Congers, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Jpmorgan Chase Bank, based in Houston, Texas, issued an SBA franchise loan for a Tutor Time franchise in 2000. We've got all the details on this New York small business loan.

SBA Loan Borrower

TUTOR TIME CHILD CARE LEARNING
CONGERS, NY 10920

SBA Loan Lender

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

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

624410 - Child Day Care Services

Loan Approval Date

11/8/2000

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 a new business. This loan was used to buy a Tutor Time franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 21 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Tutor Time Learning Centers, LLC

Role of Business Plan When Raising Money

Good Banks for Small Business in Houston, Texas

Where to Get an SBA Loan Texas