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December 18, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Boston, Business Loans > Lehman Brothers Bank, Fsb Boston Business Loans > Hotels And Motels Loan | ||||
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Boston SBA Lenders
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Entrepreneur Works With Boston, Massachusetts Bank to Get an SBA LoanA Boston, Massachusetts SBA loan can be yours. Learn how one firm got a $768,000 business loan from this Massachusetts bank. This loan to an entrepreneur is a good example of an SBA loan. Lehman Brothers Bank, Fsb made the loan and the SBA guaranteed a portion of the loan. Many other Florida entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender LEHMAN BROTHERS BANK, FSB 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 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 7/13/2000 Loan Approval Gross Amount $768,000 Loan Approval from the SBA Of the total $768,000 loan amount, the SBA guaranteed $576,000. 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 5 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Raising VC Money for Social Networking Companies Good Banks for Small Business in Boston, Massachusetts Browse All Business Loan Sources for Massachusetts
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