Get an SBA Loan for Caterers

With these small business loans for caterers, the SBA guarantees the lender that the loan will be repaid. This caterers loan for $55,500 was given to an Oklahoma entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oklahoma City, Oklahoma was able to borrow $55,500 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $27,750 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: CATERERS
OKLAHOMA CITY, OK 73130

SBA Loan Lender

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

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722320 - Caterers

Loan Approval Date

11/22/2006

Loan Approval Gross Amount

$55,500

Loan Approval from the SBA

Of the total $55,500 loan amount, the SBA guaranteed $27,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Jpmorgan Chase Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Strategic Investors

Who Lends Money to Small Businesses in Houston, Texas

Texas SBA 7A Lenders