Mortgage One Funding LLC
Mortgage One Funding LLC, located in Clawson, Michigan, operates in the mortgage and nonmortgage loan brokers industry (NAICS 522310). The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $1,818,000, approved on October 30, 2024, with Community Choice CU as the lending bank and Great Lakes Commercial Finance as the certified development company.
SBA 504 loan, approved Oct 30, 2024
$1,818,000 SBA portionCDC: Great Lakes Commercial Finance25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,818,000
- Bank portion
- $2,175,000
- Estimated project size
- $4,436,667 (estimated)
- Estimated owner equity
- $443,667 (estimated, about 10% of the project)
- Bank lender
- Community Choice CU, Farmington Hills, MI
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- October 30, 2049 (estimated, approval date plus term)
- First disbursement
- Jan 15, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 130
- Business type
- Corporation
- NAICS
- 522310, Mortgage and Nonmortgage Loan Brokers
- Project location
- Oakland County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-9
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Mortgage and Nonmortgage Loan Brokers: $2,310,750.
- Average expansion loan in Michigan: $2,050,489.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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