SBA Loan from Jpmorgan Chase Bank Helps Services For The Elderly And Persons With Disabilities Company
Jpmorgan Chase Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Houston, Texas was able to borrow $75,700 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $37,850 of this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES
HOUSTON, TX 77088
SBA Loan Lender
JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002
This SBA business 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
624120 - Services for the Elderly and Persons with Disabilities
Loan Approval Date
5/31/2007
Loan Approval Gross Amount
$75,700
Loan Approval from the SBA
Of the total $75,700 loan amount, the SBA guaranteed $37,850.
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 12 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 15 existing jobs.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Jpmorgan Chase Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Jpmorgan Chase Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Debt Financing
SBA 7A Banks for Houston, Texas Loans
Getting a Business Loan in Texas