Houston, Texas Bank Lends Money to Confectionery Wholesalers Company in Wheeling, Illinois

Want to talk with a Houston, Texas bank about an SBA loan? Here's one Illinois 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 business in Wheeling, Illinois. The business was able to get an SBA loan for $86,300. Nice!

SBA Loan Borrower

COMPANY TYPE: CONFECTIONERY WHOLESALERS
WHEELING, IL 60090

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

422450 - Confectionery Wholesalers

Loan Approval Date

6/11/2002

Loan Approval Gross Amount

$86,300

Loan Approval from the SBA

Of the total $86,300 loan amount, the SBA guaranteed $43,150.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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