Mortgage and Nonmortgage Loan Brokers Commercial Loans

With these commercial loans for mortgage and nonmortgage loan brokers, the SBA guarantees the lender that the loan will be repaid. This mortgage and nonmortgage loan brokers loan for $30,000 was given to an Ohio entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Fairfield, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Keybank National Association, based in Cleveland, Ohio.

SBA Loan Borrower

COMPANY TYPE: MORTGAGE BANKERS AND LOAN CORRESPONDENTS
FAIRFIELD, OH 45014

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

6162 - Mortgage Bankers and Loan Correspondents

NAICS Code

522310 - Mortgage and Nonmortgage Loan Brokers

Loan Approval Date

11/3/2000

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Keybank National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Angel Investors

Find an SBA Lender in Cleveland, Ohio

Getting an SBA Loan in Ohio