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May 2, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Offices And Clinics Of Doctors Of Medicine Loan | ||||
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Texas Bank SBA Loans
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Jpmorgan Chase Bank SBA Loan to Offices And Clinics Of Doctors Of Medicine CompanyWant a Michigan SBA loan? Here's one Michigan business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Detroit, Michigan was able to borrow $250,000 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $187,500 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE SBA Loan Lender JPMORGAN CHASE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8011 - Offices and Clinics of Doctors of Medicine Loan Approval Date 6/19/2000 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: SBA 7A Lenders in Houston, Texas
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