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April 28, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Limited-Service Restaurants Loan | ||||
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Tips for Small Business Owners On Getting a Loan
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Where to Get Capital for Limited-Service RestaurantsWith these SBA loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $10,000 was given to an Ohio entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbus, Ohio was able to borrow $10,000 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $5,000 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender JPMORGAN CHASE BANK 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 722211 - Limited-Service Restaurants Loan Approval Date 8/24/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 3 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 5 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. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Jpmorgan Chase Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: The Friends and Family Network Best Houston, Texas Banks for Small Business
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