How to Get a Loan for Mortgage and Nonmortgage Loan Brokers
With these business 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 $180,000 was given to an Arizona entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Phoenix, Arizona was able to borrow $180,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $135,000 of this Arizona small business loan.
SBA Loan Borrower
COMPANY TYPE: LOAN BROKERS
PHOENIX, AZ 85020
SBA Loan Lender
WELLS FARGO BANK
177 PARK AVE, STE 300, A-0514
SAN JOSE, CA 95113
This loan for a small business was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.
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
4/30/2003
Loan Approval Gross Amount
$180,000
Loan Approval from the SBA
Of the total $180,000 loan amount, the SBA guaranteed $135,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 45 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.
Next Steps for Getting an SBA Loan
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 $180,000 loan. Remember, things become real when you believe you can achieve them!
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:
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SBA Banks in San Jose, California
SBA Lenders in California