Posts Tagged ‘small business loans’

Chase Small Business Loans

The new Chase Small Business Loans are giving people as an incentive to jumpstart the economy.  One of the purposes of the giant bail out of the banks and their financial system was to help get the economy running again by helping the banks to start making loans. Chase has decided to do this.

With their new small business loans, a company can have a reduction of 0.5% in the interest on their loan when they hire a new employee. This is limited to 4 new hires, so the total reduction can amount to 2.0% of the interest on a loan.

This policy change was initiated by the parent company JP Morgan on June 29, 2010. To further help the American economy, JP Morgan has made a pledge of $10 billion for small business with loans. The qualification is that their net sales have to be less than $20 million annually.

At the present time, Chase already has over $29 billion in loans to business that have less than $20 million in annual sales. The main aim is to help business with less than $10 million in annual sales, but up to $20 million will still qualify for this new program.

Chase has already paid back the $25 billion bailout fund they received from the federal government from the Trouble Asset Relief Program. This new loan program is not tied to any influence because of that previous lone. To find out more, go to Chase Online Banking on how to apply and what the specific qualifications are for the Chase Small Business Loans.

For additional resources about Chase Banking services on this website, please view Chase Checking Accounts Compared.

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