Copley, Ohio Business Gets SBA-Guaranteed Funding from Jpmorgan Chase Bank

An SBA loan from Jpmorgan Chase Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Copley, Ohio business owner got a $140,900 loan.

This business knew how to go about getting a business bank loan. Based in Copley, Ohio, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
COPLEY, OH 44321

SBA Loan Lender

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

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

722211 - Limited-Service Restaurants

Loan Approval Date

4/29/2003

Loan Approval Gross Amount

$140,900

Loan Approval from the SBA

Of the total $140,900 loan amount, the SBA guaranteed $70,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Copley OH, you ought to talk with a local Copley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Copley businesses.

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.

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