Business Loan from Jpmorgan Chase Bank Given to Full-Service Restaurants Company
Jpmorgan 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.
Getting a small business loan in Saint Helen, Michigan was an essential business goal for this firm back in 2006 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 Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
SAINT HELEN, MI 48656
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
722110 - Full-Service Restaurants
Loan Approval Date
11/28/2006
Loan Approval Gross Amount
$122,700
Loan Approval from the SBA
Of the total $122,700 loan amount, the SBA guaranteed $61,350.
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 10 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you need money to start business in Saint Helen MI, you ought to talk with a local Saint Helen SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Saint Helen businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $122,700 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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