Lehman Brothers Bank, Fsb Provides SBA Loan to Buy Matco Tools rent Tools Franchise

Need money to purchase a Matco Tools rent Tools franchise? Lehman Brothers Bank, Fsb has a history of making these loans and they are guaranteed by the SBA.

Matco Tools rent Tools franchise loans are available to Raymore, Missouri entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Lehman Brothers Bank, Fsb, based in Boston, Massachusetts, issued an SBA franchise loan for a Matco Tools rent Tools franchise in 2000. We've got all the details on this Missouri small business loan.

SBA Loan Borrower

MATCO TOOL DISTRIBUTOR
RAYMORE, MO 64083

SBA Loan Lender

LEHMAN BROTHERS BANK, FSB
101 SUMMER ST
BOSTON, MA 02110

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

Loan Approval Date

7/25/2000

Loan Approval Gross Amount

$56,000

Loan Approval from the SBA

Of the total $56,000 loan amount, the SBA guaranteed $44,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Matco Tools rent Tools franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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