Burnsville, MN Entrepreneur Gets SBA Loan to Buy Realty Executive Franchise

Borrowing money to invest in a Realty Executive franchise? Highland Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Realty Executive franchise requires some effort but others before you have been successful. In 2005, Highland Bank issued an SBA franchise loan to an entrepreneur in Burnsville, Minnesota. Because Realty Executive was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

REALTY EXECUTIVES
BURNSVILLE, MN 55337

SBA Loan Lender

HIGHLAND BANK
701 CENTRAL AVE EAST
SAINT MICHAEL, MN 55376

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

522292 - Real Estate Credit

Loan Approval Date

9/1/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Realty Executive franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 14 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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