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April 29, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Office Supplies And Stationery Loan | ||||
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Getting an SBA Loan from Jpmorgan Chase Bank
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Phoenix, Arizona Business Gets SBA-Guaranteed Funding from Jpmorgan Chase BankAn SBA loan from Jpmorgan Chase Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Phoenix, Arizona business owner got a $35,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Phoenix, Arizona was able to borrow $35,000 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $17,500 of this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: OFFICE SUPPLIES AND STATIONERY SBA Loan Lender JPMORGAN CHASE BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 453210 - Office Supplies and Stationery Loan Approval Date 12/10/2004 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 did not indicate that the business promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Houston, Texas Banks for Small Business
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