Raising Money for Used Car Dealers
Looking for bank loans for used car dealers? Try the SBA. This $40,400 used car dealers loan was issued by a Texas bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fort Worth, Texas was able to borrow $40,400 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $20,200 of this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: USED CAR DEALERS
FORT WORTH, TX 76104
SBA Loan Lender
JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002
This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
441120 - Used Car Dealers
Loan Approval Date
7/12/2007
Loan Approval Gross Amount
$40,400
Loan Approval from the SBA
Of the total $40,400 loan amount, the SBA guaranteed $20,200.
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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
If you want money for new small business in Fort Worth TX, you ought to talk with a local Fort Worth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fort Worth businesses.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Jpmorgan Chase Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
Accountant's Role in Securing Financing
Where to Get an SBA Loan in Houston, Texas
SBA Texas Lenders