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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Drywall, Plastering, Acoustical, And Insulation Contractors Loan | ||||
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We Needed a Commercial Loan in Crowley, Texas and We Got One!
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Drywall, Plastering, Acoustical, and Insulation Contractors Business LoansLooking for business loans for drywall, plastering, acoustical, and insulation contractors? The SBA may be the answer. This $75,000 drywall, plastering, acoustical, and insulation contractors loan was issued by a Texas bank. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Jpmorgan Chase Bank, out of Houston, Texas. The loan was granted and they received $75,000 to help grow their Crowley, Texas business. SBA Loan Borrower COMPANY TYPE: DRYWALL, PLASTERING, ACOUSTICAL, AND INSULATION CONTRACTORS SBA Loan Lender JPMORGAN CHASE BANK The lender provided this SBA 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 235420 - Drywall, Plastering, Acoustical, and Insulation Contractors Loan Approval Date 10/31/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The loan application indicated that the loan would help retain 18 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. 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:
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