SBA Loan from Jpmorgan Chase Bank Helps Personal Services Company

Jpmorgan Chase Bank has a track record as a leading provider of SBA loans. Find out how this Utah entrepreneur received an SBA loan from them.

Getting a small business loan in Orem, Utah was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Jpmorgan Chase Bank, operating out of Houston, Texas. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
OREM, UT 84057

SBA Loan Lender

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

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

812990 - Personal Services

Loan Approval Date

11/28/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 18 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

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