SBA Loan from Jpmorgan Chase Bank Helps Roofing, Siding, And Sheet Metal Contractors Company

An SBA loan from Jpmorgan Chase Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Indianapolis, Indiana business owner got a $50,000 loan.

Getting a small business loan in Indianapolis, Indiana was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Jpmorgan Chase Bank, operating out of Columbus, Ohio. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL CONTRACTORS
INDIANAPOLIS, IN 46234

SBA Loan Lender

JPMORGAN CHASE BANK
100 E BROAD ST
COLUMBUS, OH 43215

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

235610 - Roofing, Siding, and Sheet Metal Contractors

Loan Approval Date

11/4/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 no employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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:

Bank Credit Lines

SBA 7A Banks for Columbus, Ohio Loans

Getting an SBA Loan in Ohio