Lehman Brothers Bank, Fsb Provides SBA Loan to Buy Rocky Mountain Chocolate Factory Franchise

Need a loan to buy a Rocky Mountain Chocolate Factory franchise? Lehman Brothers Bank, Fsb has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Rocky Mountain Chocolate Factory franchise shouldn't be too tough. In 2001, Lehman Brothers Bank, Fsb issued an SBA franchise loan to an entrepreneur in Durham, North Carolina. Because Rocky Mountain Chocolate Factory was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

ROCKY MOUNTAIN CHOCOLATE FACTO
DURHAM, NC 27713

SBA Loan Lender

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

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.

NAICS Code

445292 - Confectionery and Nut Stores

Loan Approval Date

11/16/2001

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rocky Mountain Chocolate Factory franchise. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower indicated that the loan would help create 18 new jobs.

Next Steps for Getting an SBA Loan

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.

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 Lehman Brothers Bank, Fsb 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.

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