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April 25, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Phoenix, Business Loans > Jpmorgan Chase Bank Phoenix Business Loans > General Freight Trucking, Local Loan | ||||
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Advice for Small Businesses On Getting a Loan
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General Freight Trucking, Local SBA LoansLooking for SBA loans for general freight trucking, local? Talk to a banker who works with the SBA. This $1,031,400 general freight trucking, local loan was issued by an Arizona bank. This business knew how to go about getting a business bank loan. Based in Kokomo, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Jpmorgan Chase Bank, based in Phoenix, Arizona. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender JPMORGAN CHASE BANK This lender provides SBA 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 484110 - General Freight Trucking, Local Loan Approval Date 12/22/2005 Loan Approval Gross Amount $1,031,400 Loan Approval from the SBA Of the total $1,031,400 loan amount, the SBA guaranteed $773,550. 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 14 employees. The loan application indicated that the loan would help retain 14 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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. Related Links: Advice on Getting a Small Business Loan SBA Participating Banks in Phoenix, Arizona SBA Participating Banks in Arizona
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