Bank Loans for Building Equipment Contractors

Looking for bank loans for building equipment contractors? Talk to a banker who works with the SBA. This $17,500 building equipment contractors loan was issued by a Texas bank.

This small firm knew how to go about getting a business bank loan. Based in Chicago, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: BUILDING EQUIPMENT CONTRACTORS
CHICAGO, IL 60622

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

238290 - Building Equipment Contractors

Loan Approval Date

6/21/2007

Loan Approval Gross Amount

$17,500

Loan Approval from the SBA

Of the total $17,500 loan amount, the SBA guaranteed $8,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Chicago IL, you ought to talk with a local Chicago SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chicago businesses.

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.

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