Jpmorgan Chase Bank Provides SBA Loan to Buy Papa Romano's Franchise

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

An entrepreneur in Dearborn, Michigan needed money to invest in a Papa Romano's franchise back in 2005. Jpmorgan Chase Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

HYPES HOLDINGS, L.L.C.
DEARBORN, MI 48124

SBA Loan Lender

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

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/19/2005

Loan Approval Gross Amount

$74,900

Loan Approval from the SBA

Of the total $74,900 loan amount, the SBA guaranteed $63,665.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Papa Romano's franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 6 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Jpmorgan Chase Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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