Borrowing Money for Mortgage and Nonmortgage Loan Brokers

Looking for loans for mortgage and nonmortgage loan brokers? Talk to a banker who works with the SBA. This $58,100 mortgage and nonmortgage loan brokers loan was issued by an Illinois bank.

Getting a small business loan in Evergreen Park, Illinois was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Harris National Association, operating out of Summit, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS
EVERGREEN PARK, IL 60805

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
7549 W 63RD ST
SUMMIT, IL 60501

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.

NAICS Code

522310 - Mortgage and Nonmortgage Loan Brokers

Loan Approval Date

6/25/2004

Loan Approval Gross Amount

$58,100

Loan Approval from the SBA

Of the total $58,100 loan amount, the SBA guaranteed $49,385.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Harris National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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