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May 6, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Gasoline Stations Loan | ||||
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Jpmorgan Chase Bank
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SBA Loan from Jpmorgan Chase Bank Helps Gasoline Stations CompanyAn SBA loan from Jpmorgan Chase Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Burton, Michigan business owner got a $235,600 loan. This growing company knew how to go about getting a business bank loan. Based in Burton, Michigan, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS SBA Loan Lender JPMORGAN CHASE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 447190 - Gasoline Stations Loan Approval Date 4/27/2001 Loan Approval Gross Amount $235,600 Loan Approval from the SBA Of the total $235,600 loan amount, the SBA guaranteed $176,700. 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 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: SBA 7A Banks for Houston, Texas Loans
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