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| Entrepreneur Resources | Lehman Brothers Bank, Fsb Wilmington Business Loans | ||||
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Lehman Brothers Bank, Fsb Business Loan Miami, FL
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Lehman Brothers Bank, Fsb SBA Loan to Florida Storm Protection IncLehman Brothers Bank, Fsb and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level.
Florida Storm Protection Inc received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Lehman Brothers Bank, Fsb, out of Wilmington, Delaware. The loan was granted and they received $127,400 to help grow their Miami, Florida business. SBA Loan Borrower FLORIDA STORM PROTECTION INC SBA Loan Lender LEHMAN BROTHERS BANK, FSB As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238190 - Other Foundation, Structure, and Building Exterior Contractors Loan Approval Date 9/15/2006 Loan Approval Gross Amount $127,400 Loan Approval from the SBA Of the total $127,400 loan amount, the SBA guaranteed $108,290. More Information on This SBA Loan The borrower, Florida Storm Protection Inc, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Banking Deregulation's Effects on Entrepreneurship Small Bank Loans in Wilmington, Delaware If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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