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November 14, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Wilmington, Business Loans > Lehman Brothers Bank, Fsb Wilmington Business Loans > Real Estate Agents And Brokers Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Small Business Loans for Real Estate Agents and BrokersWith these small business loans for real estate agents and brokers, the SBA guarantees the lender that the loan will be repaid. This real estate agents and brokers loan for $350,000 was given to a Georgia entrepreneur in 2005. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Lehman Brothers Bank, Fsb, out of Wilmington, Delaware. The loan was granted and they received $350,000 to help grow their Stone Mountain, Georgia business. SBA Loan Borrower COMPANY TYPE: REAL ESTATE AGENTS AND BROKERS SBA Loan Lender LEHMAN BROTHERS BANK, FSB The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 531210 - Real Estate Agents and Brokers Loan Approval Date 4/7/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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 10 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs. Getting an SBA Loan For Your Business 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: SBA 7A Banks in Wilmington, Delaware
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