New York Entrepreneur Secures Financing to Buy Cohen's Fashion Optical Franchise

Need money to invest in a Cohen's Fashion Optical franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bayside, New York needed money to invest in a Cohen's Fashion Optical franchise back in 2003. Jpmorgan Chase Bank issued an SBA franchise loan. Here are the details on this New York small business loan.

SBA Loan Borrower

COHEN'S FASHION OPTICAL
BAYSIDE, NY 11360

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This lender provides SBA bank 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

446130 - Optical Goods Stores

Loan Approval Date

6/5/2003

Loan Approval Gross Amount

$449,000

Loan Approval from the SBA

Of the total $449,000 loan amount, the SBA guaranteed $336,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Cohen's Fashion Optical franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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