Loan to Buy Ground Round Restaurants Franchise Issued By Jpmorgan Chase Bank

Borrowing money to buy a Ground Round Restaurants franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ground Round Restaurants franchise may simply require a phone call to a local SBA banker. In 2003, Jpmorgan Chase Bank issued an SBA franchise loan to an entrepreneur in Kalamazoo, Michigan. Because Ground Round Restaurants was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

THE GROUND ROUND
KALAMAZOO, MI 49008

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/2/2003

Loan Approval Gross Amount

$463,600

Loan Approval from the SBA

Of the total $463,600 loan amount, the SBA guaranteed $347,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Ground Round Restaurants franchise. At the time of the loan, the company had 110 employees. The SBA loan documents indicated that the loan would help retain 110 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Jpmorgan Chase Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

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