Business Loan from Lehman Brothers Bank, Fsb Given to Fitness And Recreational Sports Centers Company

An SBA loan from Lehman Brothers Bank, Fsb typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a North Hollywood, California business owner got a $730,400 loan.

This business knew how to go about getting a business bank loan. Based in North Hollywood, California, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Lehman Brothers Bank, Fsb, based in Wilmington, Delaware.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
NORTH HOLLYWOOD, CA 91602

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

10/18/2004

Loan Approval Gross Amount

$730,400

Loan Approval from the SBA

Of the total $730,400 loan amount, the SBA guaranteed $547,800.

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 SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Lehman Brothers Bank, Fsb that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Alternative Financing

Best Banks in Wilmington, Delaware

Delaware SBA 7A Lenders