Indiana Entrepreneur Secures Financing to Buy General Nutrition Center Franchise

Need a loan to invest in a General Nutrition Center franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a General Nutrition Center franchise shouldn't be too tough. In 2000, Jpmorgan Chase Bank issued an SBA franchise loan to an entrepreneur in Munster, Indiana. Because General Nutrition Center was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

GENERAL NUTRITION CENTER
MUNSTER, IN 46321

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.

SIC Code

5999 - Retail Stores

Loan Approval Date

8/24/2000

Loan Approval Gross Amount

$188,600

Loan Approval from the SBA

Of the total $188,600 loan amount, the SBA guaranteed $141,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a General Nutrition Center franchise. At the time of the loan, the company had 2 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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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.

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