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May 6, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > General Line Grocery Wholesalers Loan | ||||
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Jpmorgan Chase Bank
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Business Loan from Jpmorgan Chase Bank Given to General Line Grocery Wholesalers CompanyJpmorgan Chase Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Paso, Texas was able to borrow $37,500 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $30,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL LINE GROCERY WHOLESALERS SBA Loan Lender JPMORGAN CHASE BANK This lender issued this loan for a small business under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422410 - General Line Grocery Wholesalers Loan Approval Date 2/14/2001 Loan Approval Gross Amount $37,500 Loan Approval from the SBA Of the total $37,500 loan amount, the SBA guaranteed $30,000. 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 5 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Jpmorgan Chase Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Dealing With Venture Capitalists SBA Participating Banks in Houston, Texas
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