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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 > Sewing, Needlework, And Piece Goods Stores Loan | ||||
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SBA Lender Houston
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Houston, Texas Lender Lends Money to Sewing, Needlework, And Piece Goods Stores CompanyThinking about meeting with a Houston, Texas bank about a business loan? Here's one Michigan business loan, issued by a Houston bank, that was approved by the SBA. Applying for an SBA loan with Jpmorgan Chase Bank worked out well for our friends at one local business in Grand Blanc, Michigan. They got an SBA loan for $78,600. Way to go! SBA Loan Borrower COMPANY TYPE: SEWING, NEEDLEWORK, AND PIECE GOODS STORES SBA Loan Lender JPMORGAN CHASE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451130 - Sewing, Needlework, and Piece Goods Stores Loan Approval Date 1/21/2004 Loan Approval Gross Amount $78,600 Loan Approval from the SBA Of the total $78,600 loan amount, the SBA guaranteed $66,810. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money 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: Best Banks for Small Business in Houston, Texas
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