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Chase Business Loans

Be it start-ups or small businesses, JP Morgan Chase bank offers business loans to all kinds of businesses. Lending is also done by Chase for expanding an existing business, raising capital in hand or for auto loans. In order to reduce the incidence of loan default by the customer in need of money, Chase bank provides the customers with repayment calculators along with the application form so that the customer can judge whether his/her lent sum could be successfully repaid by his/her fiscal endurance.

Loan calculators are established on the basis of the cash flow of the client, which bear in mind the chargeable interest rate and the total length of the loan and tell the EMI (Equated Monthly Installment) to the client. The interest rate applicable on a loan is determined by the total duration of the loan as well as the credit score of the borrower, a culmination of regular credit card payments.

Small Business Administration (SBA) Loans offered by Chase

By availing an SBA loan, businesses can capitalize on spread out refund conditions and lesser restrictions on quanta of amounts borrowed due to lesser caveats than mainstream debts. Being an SBA Preferred Lender, Chase hastens the loan citation procedure by conclusion of the loan inside SBA guidelines. Chase is responsible for origination and servicing of all SBA loans while the Small Business Administration functions merely as a guarantor.

SBA loans furnish several benefits like
  • Lesser caveats to get SBA loans as compared to mainstream business loans.
  • Prolonged repayment conditions and smaller periodic payments.
  • Borrowing permitted up to 90% of the value of the collateral.

SBA 7(a) and Express Program

These render finances for myriad commercial and business intents. Takings are expended to finance equipment leverages, business acquisitions or enlargements, pay for permanent working capital or buying real estate.

SBA 504 Loan Program

Under this program, financial yields are employed for purchase of real estate or equipment and are generally intended towards projects above $500,000.

Export Express

These loans are aimed at business customers exporting goods, desiring to expand, those getting into a new export market and requiring working capital. Such loans also permit funding of foreign assets.

Patriot Express

These loans are meant for suitable members of the armed forces. For a business to be eligible for this scheme, it must be owned at least 51% by:
  • Veterans, Service Disabled Veterans, Transitioning Active Duty Military Service Members, Reservists and National Guard Members.
  • Widowed spouses of those listed above who died in service.
  • Current spouses of those listed above.
For any queries, customers can call 1-888-LEND-SBA (1-888-536-3722) or pay a visit to a local Chase branch.

Chase Business Installment Loan

This loan is tendered to assist one’s funding of capexes and improvements of working capital.

Loan Amounts:Above $5,000 for a pre-determined length of time; usually one to five years.
Rates:Choice of either a fixed or a variable interest rate.
Repayment:Defraying loan payments monthly; or getting them deducted from the customer’s Chase Business Checking Account.

To go for this loan, the customer can call 1-800-CHASE24 (1-800-242-7324)

Chase True Lease

With Fair Market Value (FMV), true lease is a conventional chartering accord with an alternative of leveraging the equipment at fair market value at the culmination of the lease. It includes all kinds of capital equipment that can be devalued, from manufacturing, transportation and construction equipment to furniture, fixtures and computers. The benefits of this scheme are-
  • 100% funding
  • Minimal cash up front required
  • Lower and pliant payments, i.e., step-up, step-down or seasonal payments, as compared to a loan
  • Alternative of FMV residual leveraging
  • The acquisition doesn’t impact fiscal proportions or loan compacts due to off-balance sheet accounting treatment.
The lease holder is the proprietor of the equipment and retains possession of the equipment at the culmination of the lease or the equipment is bought at its depreciated fair market value.
  1. The lease varies from 2-7 years or below 75% of the reckoned utile life.
  2. To apply for this scheme, the client can call 1-866-785-2821.

Chase Business Line of Credit

This scheme is intended to keep the business supplied with cash so that it can meet its unforeseen needs with a revolving line of credit. The lines of credit range from $10,000 and above.

The profits for a customer in opting for a business line of credit are
  • Fulfilling of short-term credit needs and leveraging of inventory.
  • Creation of contingency and emergency funds.
  • Credit lines can be approached by check, card, by phone or online.
  • The Business Line of Credit Visa Access Card ensures convenient transactions and tenders 1% cash back rewards.
  • Account information can be found online or by calling at 1-800-CHASE38 (1-800-242-7338).
    All lines, loans, and leases are subject to credit approval.
    Lines below than $10,000 can be availed of using Chase Business Credit Card or calling at 1-888-428-2273

    JP Morgan Chase offers online banking options for customers to check their application status. Once the customer fulfils all the requirements to get a loan, his/her application for a business line of credit or loan is approved. The amount of interest incurred on a start-up or a loan for a small business is a big part of the sanctioned loan amount due to the lent amount being small. The client can contact the bank either on its phone number or via its website www.chase.com in order to get any usual modifications done in the loan or get any complaints answered.

    Last Updated On: 2011/09/02