Utah Entrepreneur Secures Financing to Buy Zero's Franchise

Borrowing money to buy a Zero's franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Zero's franchise may simply require a phone call to a local SBA banker. In 2005, Jpmorgan Chase Bank issued an SBA franchise loan to an entrepreneur in Salt Lake City, Utah. Because Zero's was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis.

SBA Loan Borrower

VENTURES IN PARTNERSHIP, L.L.C
SALT LAKE CITY, UT 84115

SBA Loan Lender

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

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

6/23/2005

Loan Approval Gross Amount

$98,600

Loan Approval from the SBA

Of the total $98,600 loan amount, the SBA guaranteed $49,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Zero's franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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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