South Carolina Entrepreneur Secures Financing to Buy Zero's Franchise

Borrowing money to invest in a Zero's franchise? Lehman Brothers Bank, Fsb has a history of making these loans and they are guaranteed by the SBA.

If you live near Mount Pleasant, South Carolina and are interested in buying a Zero's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Lehman Brothers Bank, Fsb. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ZERO'S SUBS
MOUNT PLEASANT, SC 29464

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

5812 - Eating Places

Loan Approval Date

3/7/2000

Loan Approval Gross Amount

$141,000

Loan Approval from the SBA

Of the total $141,000 loan amount, the SBA guaranteed $105,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Zero's franchise. At the time of the loan, the company had 15 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Lehman Brothers Bank, Fsb so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Zero's Subs

Direct Public Offerings

Who Lends Money to Small Businesses in Boston, Massachusetts

Where to Get an SBA Loan Massachusetts