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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Motor Vehicle Supplies And New Parts Loan | ||||
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Jpmorgan Chase Bank
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Roseville, Michigan Business Gets SBA-Guaranteed Funding from Jpmorgan Chase BankJpmorgan Chase Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Roseville, Michigan was able to borrow $175,000 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $157,500 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS SBA Loan Lender JPMORGAN CHASE BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5013 - Motor Vehicle Supplies and New Parts NAICS Code 421120 - Motor Vehicle Supplies and New Parts Wholesalers Loan Approval Date 2/1/2001 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $157,500. 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 SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Banks for Houston, Texas Loans
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