SBA Loan from Lehman Brothers Bank, Fsb Helps Drugs And Druggists' Sundries Wholesalers Company

An 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 Chula Vista, California business owner got a $489,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chula Vista, California was able to borrow $489,500 from Lehman Brothers Bank, Fsb. The SBA made the loan possible by guaranteeing $367,125 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: DRUGS AND DRUGGISTS' SUNDRIES WHOLESALERS
CHULA VISTA, CA 91911

SBA Loan Lender

LEHMAN BROTHERS BANK, FSB
1000 WEST ST, STE 200
WILMINGTON, DE 19801

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.

NAICS Code

422210 - Drugs and Druggists' Sundries Wholesalers

Loan Approval Date

10/5/2007

Loan Approval Gross Amount

$489,500

Loan Approval from the SBA

Of the total $489,500 loan amount, the SBA guaranteed $367,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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