Mortgage and Nonmortgage Loan Brokers Business Loans

Looking for business loans for mortgage and nonmortgage loan brokers? An SBA loan may be just what you've been looking for. This $260,100 mortgage and nonmortgage loan brokers loan was issued by a North Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $260,100 from Bank Of America. The SBA made the loan possible by guaranteeing $195,075 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS
MIAMI, FL 33173

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

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

8/8/2002

Loan Approval Gross Amount

$260,100

Loan Approval from the SBA

Of the total $260,100 loan amount, the SBA guaranteed $195,075.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Miami FL, you ought to talk with a local Miami SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Miami businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for 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.

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