Borrowing Money for Mortgage and Nonmortgage Loan Brokers

Looking for small business loans for mortgage and nonmortgage loan brokers? Try the SBA. This $17,000 mortgage and nonmortgage loan brokers loan was issued by a Kentucky bank.

This small firm knew how to go about getting a business bank loan. Based in Bowling Green, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Citizens First Bank, Inc., based in Bowling Green, Kentucky.

SBA Loan Borrower

COMPANY TYPE: LOAN BROKERS
BOWLING GREEN, KY 42101

SBA Loan Lender

CITIZENS FIRST BANK, INC.
987 LEHMAN AVE
BOWLING GREEN, KY 42101

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6163 - Loan Brokers

NAICS Code

522310 - Mortgage and Nonmortgage Loan Brokers

Loan Approval Date

1/5/2001

Loan Approval Gross Amount

$17,000

Loan Approval from the SBA

Of the total $17,000 loan amount, the SBA guaranteed $14,450.

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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Role of Business Plan When Raising Money

Who Lends Money to Small Businesses in Bowling Green, Kentucky

Getting an SBA Loan in Kentucky