Borrow Money to Buy a Remax Franchise

Need money to invest in a Remax franchise? Commercefirst Bancorp, Inc. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Remax franchise may simply require a phone call to a local SBA banker. In 2005, Commercefirst Bancorp, Inc. issued an SBA franchise loan to an entrepreneur in Glen Burnie, Maryland. Because Remax was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis.

SBA Loan Borrower

REMAX PROGRESSIVE
GLEN BURNIE, MD 21061

SBA Loan Lender

COMMERCEFIRST BANCORP, INC.
1804 WEST ST, STE 200
ANNAPOLIS, MD 21401

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531311 - Residential Property Managers

Loan Approval Date

5/11/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Remax franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

This SBA loan was for $150,000. How would you spend $150,000 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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