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April 27, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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How to Get SBA Loans in Peoria, Illinois
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Raising Money for Fitness and Recreational Sports CentersWith these business loans for fitness and recreational sports centers, the SBA guarantees the lender that the loan will be repaid. This fitness and recreational sports centers loan for $100,000 was given to an Illinois entrepreneur in 2004. This business knew how to go about getting a business bank loan. Based in Peoria, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender JPMORGAN CHASE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 713940 - Fitness and Recreational Sports Centers Loan Approval Date 10/25/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help generate 11 new jobs and retain 1 existing job. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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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