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April 27, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > General Automotive Repair Loan | ||||
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Chicago, Illinois Bank Loan
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General Automotive Repair Business LoansWith these business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $46,200 was given to an Illinois entrepreneur in 2002. This small business 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 2002. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender JPMORGAN CHASE BANK The lender provided this bank 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 811111 - General Automotive Repair Loan Approval Date 7/1/2002 Loan Approval Gross Amount $46,200 Loan Approval from the SBA Of the total $46,200 loan amount, the SBA guaranteed $23,100. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Jpmorgan Chase Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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:
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