Local Business Gets an Ohio Small Business Loan

Would an Ohio business loan help your company expand? If so, you may want to talk with this Texas bank, which offers SBA loans to Ohio entrepreneurs.

Getting a small business loan in Marion, Ohio was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Jpmorgan Chase Bank. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
MARION, OH 43302

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

12/19/2000

Loan Approval Gross Amount

$1,203,100

Loan Approval from the SBA

Of the total $1,203,100 loan amount, the SBA guaranteed $749,988.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Jpmorgan Chase Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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