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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Dentists Loan | ||||
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Flossmoor, Illinois Bank Loan
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Illinois Bank Loan Issued to Dentists CompanyIllinoisBusiness loans are available to Illinois business owners through the SBA. In this case, a Texas bank provides the loan. Getting a small business loan in Flossmoor, Illinois was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Jpmorgan Chase Bank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: DENTISTS SBA Loan Lender JPMORGAN CHASE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621210 - Dentists Loan Approval Date 5/29/2002 Loan Approval Gross Amount $305,500 Loan Approval from the SBA Of the total $305,500 loan amount, the SBA guaranteed $229,125. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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. Related Links: Who Lends Money to Small Businesses in Houston, Texas
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