SBA Loan from Jpmorgan Chase Bank Helps Full-Service Restaurants Company

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

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Jpmorgan Chase Bank, out of Houston, Texas. The loan was granted and they received $757,500 to help grow their Ferndale, Michigan business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FERNDALE, MI 48220

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/25/2004

Loan Approval Gross Amount

$757,500

Loan Approval from the SBA

Of the total $757,500 loan amount, the SBA guaranteed $568,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 35 employees. The SBA loan application for the borrower indicated that the loan would help generate 32 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Getting a Small Business Loan

SBA Participating Banks in Houston, Texas

Texas SBA Banks