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December 23, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Business Loans for Mentor Businesses
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Automotive Body, Paint, and Interior Repair and Maintenance LoansWith these loans for automotive body, paint, and interior repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive body, paint, and interior repair and maintenance loan for $509,800 was given to an Ohio entrepreneur in 2005. This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Jpmorgan Chase Bank, out of Houston, Texas. The loan was granted and they received $509,800 to help grow their Mentor, Ohio business. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender JPMORGAN CHASE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 8/29/2005 Loan Approval Gross Amount $509,800 Loan Approval from the SBA Of the total $509,800 loan amount, the SBA guaranteed $382,350. 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 2 employees. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source 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: SBA 7A Lenders in Houston, Texas
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