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May 3, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Houston, Business Loans > Jpmorgan Chase Bank Houston Business Loans > Sports Clips Loan | ||||
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Illinois Small Business Funding for Franchises
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Illinois Entrepreneur Secures Financing to Buy Sports Clips FranchiseBorrowing money to buy a Sports Clips franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Veron Hill, Illinois needed money to invest in a Sports Clips franchise back in 2004. Jpmorgan Chase Bank issued an SBA franchise loan. Here are the details on this Illinois small business loan. SBA Loan Borrower SPORTS CLIPS SBA Loan Lender JPMORGAN CHASE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 11/5/2004 Loan Approval Gross Amount $369,500 Loan Approval from the SBA Of the total $369,500 loan amount, the SBA guaranteed $277,125. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Sports Clips franchise. At the time of the loan, the company had 14 employees. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Jpmorgan Chase Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Borrowing Money from Friends and Family SBA Approved Banks in Houston, Texas
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