Lehman Brothers Bank, Fsb Gives Small Business Loan to Jewelry, Watch, Precious Stone, And Precious Metal Merchant Wholesalers Company
Searching for a California small business loan? This California entrepreneur got a small business loan, provided by a Delaware bank that works with the SBA to help small business owners.
This company, based in Los Angeles, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Lehman Brothers Bank, Fsb. We've got the inside scoop on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL MERCHANT WHOLESALERS
LOS ANGELES, CA 90027
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
423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers
Loan Approval Date
9/9/2005
Loan Approval Gross Amount
$873,000
Loan Approval from the SBA
Of the total $873,000 loan amount, the SBA guaranteed $654,750.
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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.
Great, But How Can I Get an SBA Loan for My 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.
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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