Lehman Brothers Bank, Fsb SBA Loan to Insurance Agents And Brokers Company

Want a Texas business loan? Here's one Texas business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in College Station, Texas was able to borrow $238,000 from Lehman Brothers Bank, Fsb. The SBA made the loan possible by guaranteeing $178,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
COLLEGE STATION, TX 77840

SBA Loan Lender

LEHMAN BROTHERS BANK, FSB
101 SUMMER ST
BOSTON, MA 02110

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

Loan Approval Date

4/28/2000

Loan Approval Gross Amount

$238,000

Loan Approval from the SBA

Of the total $238,000 loan amount, the SBA guaranteed $178,500.

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 SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

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