Entrepreneur Works With Wilmington, Delaware Bank to Get an SBA Loan

Thinking about meeting with a Wilmington, Delaware bank about a small business loan? Here's one California business loan, issued by a Wilmington bank, that was approved by the SBA.

Applying for an SBA loan with Lehman Brothers Bank, Fsb worked out well for our friends at one local business in San Clemente, California. The business was able to get an SBA loan for $947,700. Sweet!

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
SAN CLEMENTE, CA 92672

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

611620 - Sports and Recreation Instruction

Loan Approval Date

11/10/2004

Loan Approval Gross Amount

$947,700

Loan Approval from the SBA

Of the total $947,700 loan amount, the SBA guaranteed $710,775.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Lehman Brothers Bank, Fsb so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Business Incubators

SBA Approved Banks in Wilmington, Delaware

Where to Get an SBA Loan Delaware