Entrepreneur Works With Houston, Texas Bank to Get an SBA Loan

Thinking about meeting with a Houston, Texas bank about an SBA loan? Here's one Ohio business loan, issued by a Houston bank, that was approved by the SBA.

Applying for an SBA loan with Jpmorgan Chase Bank worked out well for our friends at one local business in Parma, Ohio. They received an SBA loan for $111,600. Way to go!

SBA Loan Borrower

COMPANY TYPE: FLORISTS
PARMA, OH 44129

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

453110 - Florists

Loan Approval Date

5/17/2004

Loan Approval Gross Amount

$111,600

Loan Approval from the SBA

Of the total $111,600 loan amount, the SBA guaranteed $55,800.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Parma or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Equity Financing

SBA Banks in Houston, Texas

SBA Participating Banks in Texas