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May 3, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Boston, Business Loans > Lehman Brothers Bank, Fsb Boston Business Loans > Insurance Agents And Brokers Loan | ||||
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SBA 7A Banks for Westmont, Illinois Small Business Owners
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Illinois Bank Loan Issued to Insurance Agents And Brokers CompanyIllinoisBank loans are available to Illinois firms through the SBA. In this case, a Massachusetts bank provides the loan. By giving the right information to Lehman Brothers Bank, Fsb, this Westmont, Illinois business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENTS AND BROKERS 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. SIC Code 6411 - Insurance Agents and Brokers Loan Approval Date 5/16/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 3 employees. The loan application indicated that the loan would help generate 1 new job and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. We can help you find the best banks for small businesses in Westmont or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding - Friends and Family SBA 7A Lenders in Boston, Massachusetts
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