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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 > Snc Enterprises, LLC Loan | ||||
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Requirements for Getting a Franchise Loan
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Columbus, OH Entrepreneur Gets SBA Loan to Buy Image Sun FranchiseBorrowing money to buy an Image Sun franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Columbus, Ohio needed money to invest in an Image Sun franchise back in 2004. Jpmorgan Chase Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan. SBA Loan Borrower SNC ENTERPRISES, LLC 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 812990 - Personal Services Loan Approval Date 12/2/2004 Loan Approval Gross Amount $91,300 Loan Approval from the SBA Of the total $91,300 loan amount, the SBA guaranteed $45,650. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an Image Sun franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Advice on Getting a Small Business Loan SBA 7A Banks in Houston, Texas Browse All Business Loan Sources for Texas
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