Danville, Kentucky Business Gets SBA-Guaranteed Funding from Jpmorgan Chase Bank

Jpmorgan Chase Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Kentucky entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Danville, Kentucky, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
DANVILLE, KY 40422

SBA Loan Lender

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

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

812112 - Beauty Salons

Loan Approval Date

6/27/2006

Loan Approval Gross Amount

$229,600

Loan Approval from the SBA

Of the total $229,600 loan amount, the SBA guaranteed $114,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. This SBA loan request indicated that the loan would help retain 14 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $229,600 loan. Remember, you control your own destiny.

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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