Getting an SBA Loan for Industrial Supplies Merchant Wholesalers
With these commercial loans for industrial supplies merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This industrial supplies merchant wholesalers loan for $50,000 was given to a New York entrepreneur in 2007.
This business knew how to go about getting a business bank loan. Based in Valley Stream, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS
VALLEY STREAM, NY 11581
SBA Loan Lender
JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002
This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
423840 - Industrial Supplies Merchant Wholesalers
Loan Approval Date
12/31/2007
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.
Getting an SBA Loan For Your Business
If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source
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.
Related Links:
Alternative Financing
Small Business Banks in Houston, Texas
Find an SBA Lender in Texas