Entrepreneur Works With Boston, Massachusetts Bank to Get an SBA Loan

Find Boston, Massachusetts banks that specialize in business loans and know how to work with entrepreneurs. Lehman Brothers Bank, Fsb is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Fredericksburg, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Lehman Brothers Bank, Fsb. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
FREDERICKSBURG, VA 22401

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

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

5/5/2000

Loan Approval Gross Amount

$532,800

Loan Approval from the SBA

Of the total $532,800 loan amount, the SBA guaranteed $399,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Fredericksburg VA, you ought to talk with a local Fredericksburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fredericksburg businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Lehman Brothers Bank, Fsb are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Financing Your Business

SBA 7A Banks for Boston, Massachusetts Loans

Massachusetts SBA 7A Lenders