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April 27, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Insurance Agencies And Brokerages Loan | ||||
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Sallisaw, Oklahoma Bank for SBA Loans
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Insurance Agencies and Brokerages Business LoansWith these business loans for insurance agencies and brokerages, the SBA guarantees the lender that the loan will be repaid. This insurance agencies and brokerages loan for $40,000 was given to an Oklahoma entrepreneur in 2006. Getting a small business loan in Sallisaw, Oklahoma was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Jpmorgan Chase Bank, operating out of Houston, Texas. Here are the details on this Oklahoma small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES 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 524210 - Insurance Agencies and Brokerages Loan Approval Date 8/17/2006 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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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