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May 3, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Boston, Business Loans > Lehman Brothers Bank, Fsb Boston Business Loans > Veterinary Services For Animal Specialties Loan | ||||
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Lehman Brothers Bank, Fsb Business Loans
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Raising Money for Veterinary ServicesLooking for business loans for veterinary services? The SBA may be the answer. This $224,200 veterinary services loan was issued by a Massachusetts bank. This small business knew how to go about getting a business bank loan. Based in Chesapeake, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Lehman Brothers Bank, Fsb, based in Boston, Massachusetts. SBA Loan Borrower COMPANY TYPE: VETERINARY SERVICES FOR ANIMAL SPECIALTIES SBA Loan Lender LEHMAN BROTHERS BANK, FSB When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program aims to ensure fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0742 - Veterinary Services for Animal Specialties NAICS Code 541940 - Veterinary Services Loan Approval Date 3/16/2000 Loan Approval Gross Amount $224,200 Loan Approval from the SBA Of the total $224,200 loan amount, the SBA guaranteed $168,150. More Information on This SBA Loan The borrower borrowed this money for a new 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 4 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Lenders in Boston, Massachusetts
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