Chula Vista, California Business Gets SBA-Guaranteed Funding from Lehman Brothers Bank, Fsb

An SBA loan from Lehman Brothers Bank, Fsb typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Chula Vista, California business owner got a $551,200 loan.

Getting a small business loan in Chula Vista, California was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Lehman Brothers Bank, Fsb, operating out of Wilmington, Delaware. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: DAIRY PRODUCT MERCHANT WHOLESALERS
CHULA VISTA, CA 91911

SBA Loan Lender

LEHMAN BROTHERS BANK, FSB
1000 WEST ST, STE 200
WILMINGTON, DE 19801

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424430 - Dairy Product Merchant Wholesalers

Loan Approval Date

12/2/2005

Loan Approval Gross Amount

$551,200

Loan Approval from the SBA

Of the total $551,200 loan amount, the SBA guaranteed $413,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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