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 $200,000 was given to a Michigan entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Shelby Township, Michigan was able to borrow $200,000 from National City Bank. The SBA made the loan possible by guaranteeing $100,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS
SHELBY TOWNSHIP, MI 48315

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

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

NAICS Code

522310 - Mortgage and Nonmortgage Loan Brokers

Loan Approval Date

1/9/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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