Wilmington, Delaware Bank Gives SBA Loan to Exterminating And Pest Control Services Company

Get business loans from a Wilmington, Delaware bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Lehman Brothers Bank, Fsb is a Wilmington, Delaware small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a California company.

SBA Loan Borrower

COMPANY TYPE: EXTERMINATING AND PEST CONTROL SERVICES
RANCHO CUCAMONGA, CA 91739

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

561710 - Exterminating and Pest Control Services

Loan Approval Date

6/8/2005

Loan Approval Gross Amount

$542,500

Loan Approval from the SBA

Of the total $542,500 loan amount, the SBA guaranteed $406,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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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