Baked Goods Stores Commercial Loans

With these commercial loans for baked goods stores, the SBA guarantees the lender that the loan will be repaid. This baked goods stores loan for $60,000 was given to a Texas entrepreneur in 2001.

This small business knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: BAKED GOODS STORES
HOUSTON, TX 77084

SBA Loan Lender

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

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

2/21/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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. This SBA loan request indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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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