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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Wilmington, Business Loans > Lehman Brothers Bank, Fsb Wilmington Business Loans > Caterers Loan | ||||
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Get SBA Loans from Lehman Brothers Bank, Fsb
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SBA Loan from Lehman Brothers Bank, Fsb Helps Caterers CompanyAn 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 Rancho Palos Verdes, California business owner got a $731,000 loan. Getting a small business loan in Rancho Palos Verdes, California was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Lehman Brothers Bank, Fsb, operating out of Wilmington, Delaware. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: CATERERS SBA Loan Lender LEHMAN BROTHERS BANK, FSB 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 722320 - Caterers Loan Approval Date 8/14/2003 Loan Approval Gross Amount $731,000 Loan Approval from the SBA Of the total $731,000 loan amount, the SBA guaranteed $548,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 50 employees. The SBA loan documents indicated that the loan would help retain 50 existing jobs. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Realistic Debt Financing Options Small Business Banks in Wilmington, Delaware
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