El Monte, California Entrepreneur Gets an SBA Loan

Bank loans in California are tough to come by these days. We take a look at one California bank loan, provided by a Delaware bank, that was approved by the SBA.

This company, based in El Monte, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Lehman Brothers Bank, Fsb. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL PRODUCT AND PREPARATION MANUFACTURING
EL MONTE, CA 91733

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325998 - Chemical Product and Preparation Manufacturing

Loan Approval Date

6/24/2005

Loan Approval Gross Amount

$1,036,000

Loan Approval from the SBA

Of the total $1,036,000 loan amount, the SBA guaranteed $777,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

Related Links:

Business Incubators

Small Bank Loans in Wilmington, Delaware

Browse All Business Loan Sources for Delaware