Jpmorgan Chase Bank SBA Loan to Specialty Food Stores Company
Jpmorgan Chase Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans.
This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Jpmorgan Chase Bank, out of Houston, Texas. The loan was granted and they received $656,000 to help grow their West Bloomfield, Michigan business.
SBA Loan Borrower
COMPANY TYPE: SPECIALTY FOOD STORES
WEST BLOOMFIELD, MI 48322
SBA Loan Lender
JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002
This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
445299 - Specialty Food Stores
Loan Approval Date
6/6/2003
Loan Approval Gross Amount
$656,000
Loan Approval from the SBA
Of the total $656,000 loan amount, the SBA guaranteed $492,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $656,000 loan. Remember, fight for what you want, and it will be yours!
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:
Direct Public Offerings
Small Business Banks in Houston, Texas
SBA Texas Lenders