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April 29, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Document Preparation Services Loan | ||||
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Houston, Texas Bank for SBA Loans
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Houston, Texas Lender Lends Money to Document Preparation Services CompanyWant to talk with a Houston, Texas bank about an SBA loan? Here's one Louisiana 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 company in Baton Rouge, Louisiana. They received an SBA loan for $47,000. Sweet! SBA Loan Borrower COMPANY TYPE: DOCUMENT PREPARATION SERVICES SBA Loan Lender JPMORGAN CHASE BANK The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 561410 - Document Preparation Services Loan Approval Date 2/8/2008 Loan Approval Gross Amount $47,000 Loan Approval from the SBA Of the total $47,000 loan amount, the SBA guaranteed $23,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 1 new job and retain 5 existing jobs. Getting an SBA Loan For Your Business If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source 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: Best Banks for Small Business in Houston, Texas
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