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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Service Establishment Equipment And Supplies Merchant Wholesalers Loan | ||||
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How Hard Is It to Get a Small Business Loan in Katy, Texas?
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Where to Get Capital for Service Establishment Equipment and Supplies Merchant WholesalersLooking for small business loans for service establishment equipment and supplies merchant wholesalers? Try the SBA. This $35,500 service establishment equipment and supplies merchant wholesalers loan was issued by a Texas bank. This company knew how to go about getting a business bank loan. Based in Katy, Texas, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender JPMORGAN CHASE BANK This lender processed this SBA small business loan 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 423850 - Service Establishment Equipment and Supplies Merchant Wholesalers Loan Approval Date 9/5/2007 Loan Approval Gross Amount $35,500 Loan Approval from the SBA Of the total $35,500 loan amount, the SBA guaranteed $17,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had no employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Obtaining Funding - How to Decide How Much to Raise Where to Get an SBA Loan in Houston, Texas
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