Bank Loans for Mortgage and Nonmortgage Loan Brokers

Looking for bank loans for mortgage and nonmortgage loan brokers? The SBA may be the answer. This $280,000 mortgage and nonmortgage loan brokers loan was issued by an Utah bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bank Of The West, out of Salt Lake City, Utah. The loan was granted and they received $280,000 to help grow their Elizabeth, Colorado business.

SBA Loan Borrower

COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS
ELIZABETH, CO 80107

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

522310 - Mortgage and Nonmortgage Loan Brokers

Loan Approval Date

4/11/2002

Loan Approval Gross Amount

$280,000

Loan Approval from the SBA

Of the total $280,000 loan amount, the SBA guaranteed $210,000.

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 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $280,000 loan. Remember, anyone can do it... so why not you?

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:

Advice on Getting a Small Business Loan

SBA Approved Banks in Salt Lake City, Utah

Getting an SBA Loan in Utah