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May 3, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Tunex Automotive Specialists Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Arizona Entrepreneur Secures Financing to Buy Tunex FranchiseBorrowing money to invest in a Tunex franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Tunex franchise? If so, here's a 2002 SBA franchise loan that you should know about. Jpmorgan Chase Bank was the lender and the entrepreneur was based in Mesa, Arizona. SBA Loan Borrower TUNEX AUTOMOTIVE SPECIALISTS SBA Loan Lender JPMORGAN CHASE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 8/26/2002 Loan Approval Gross Amount $621,000 Loan Approval from the SBA Of the total $621,000 loan amount, the SBA guaranteed $465,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Tunex franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 5 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Good Banks for Small Business in Houston, Texas
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