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May 4, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Dairy Queen Loan | ||||
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SBA Franchise Lenders in Michigan
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Michigan Entrepreneur Secures Financing to Buy Dairy Queen FranchiseNeed money to invest in a Dairy Queen franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA. Dairy Queen franchise loans are available to Clio, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Jpmorgan Chase Bank, based in Houston, Texas, issued an SBA franchise loan for a Dairy Queen franchise in 2003. We've got all the details on this Michigan small business loan. SBA Loan Borrower DAIRY QUEEN 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 722211 - Limited-Service Restaurants Loan Approval Date 1/24/2003 Loan Approval Gross Amount $299,400 Loan Approval from the SBA Of the total $299,400 loan amount, the SBA guaranteed $224,550. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Dairy Queen franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help retain 10 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $299,400 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Banking Deregulation's Effects on Entrepreneurship SBA Participating Banks in Houston, Texas SBA Participating Banks in Texas
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