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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 > Child Day Care Services Loan | ||||
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Banks in Houston, Texas That Make SBA Loans
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Houston, Texas Bank Gives SBA Loan to Child Day Care Services CompanyThinking about meeting with a Houston, Texas bank about a business loan? Here's one Michigan 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 company in Saint Clair Shores, Michigan. The business was able to get an SBA loan for $465,400. Sweet! SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender JPMORGAN CHASE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 7/18/2007 Loan Approval Gross Amount $465,400 Loan Approval from the SBA Of the total $465,400 loan amount, the SBA guaranteed $349,050. 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 13 employees. This SBA loan request indicated that the loan would help retain 13 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Bank Loans in Houston, Texas
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