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April 30, 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 > Repair Shops And Related Services Loan | ||||
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Requirements for Entrepreneurs On Getting a Loan
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Commercial and Industrial Machinery and Equipment Small Business LoansLooking for small business loans for commercial and industrial machinery and equipment? Talk to a banker who works with the SBA. This $927,000 commercial and industrial machinery and equipment loan was issued by a Delaware bank. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Lehman Brothers Bank, Fsb, out of Wilmington, Delaware. The loan was granted and they received $927,000 to help grow their Santa Fe Springs, California business. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender LEHMAN BROTHERS BANK, FSB The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7699 - Repair Shops and Related Services NAICS Code 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 7/24/2002 Loan Approval Gross Amount $927,000 Loan Approval from the SBA Of the total $927,000 loan amount, the SBA guaranteed $695,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Lehman Brothers Bank, Fsb had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Lehman Brothers Bank, Fsb made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Where to Get an SBA Loan in Wilmington, Delaware
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