How to Get a Loan for Mortgage and Nonmortgage Loan Brokers

With these SBA 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 $45,000 was given to a Wisconsin entrepreneur in 2001.

This small business knew how to go about getting a business bank loan. Based in New Berlin, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Loans From Old Closed Lenders, based in Washington, District of Columbia.

SBA Loan Borrower

COMPANY TYPE: LOAN BROKERS
NEW BERLIN, WI 53151

SBA Loan Lender

LOANS FROM OLD CLOSED LENDERS
409 3RD STREET S.W., SUITE 83
WASHINGTON, DC 20416

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

6/8/2001

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

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 4 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, 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.

This SBA loan was for $45,000. How would you spend $45,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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