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May 5, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Wilmington, Business Loans > Lehman Brothers Bank, Fsb Wilmington Business Loans > No Industry Type Specified Loan | ||||
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Banks That Lend to California Small Business Owners
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Lehman Brothers Bank, Fsb Gives Business Loan to No Industry Type Specified CompanyBusiness loans in California are are few and far betweeen these days. We take a look at one California business loan, provided by a Delaware bank, that was approved by the SBA. This business, based in Milpitas, 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: NO INDUSTRY TYPE SPECIFIED 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. NAICS Code Loan Approval Date 10/25/2006 Loan Approval Gross Amount $502,000 Loan Approval from the SBA Of the total $502,000 loan amount, the SBA guaranteed $376,500. 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 140 employees. The SBA loan documents indicated that the loan would help retain 140 existing jobs. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $502,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Who Lends Money to Small Businesses in Wilmington, Delaware
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