Borrow Money to Buy a Re/max Realty Franchise

Borrowing money to buy a Re/max Realty franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Ridgeland, Mississippi needed money to invest in a Re/max Realty franchise back in 2004. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

REMAX REAL ESTATE GROUP
RIDGELAND, MS 39157

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

When it made this small business loan, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to ensure speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6531 - Real Estate Agents and Managers

NAICS Code

531210 - Real Estate Agents and Brokers

Loan Approval Date

1/16/2004

Loan Approval Gross Amount

$528,000

Loan Approval from the SBA

Of the total $528,000 loan amount, the SBA guaranteed $396,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Re/max Realty franchise. At the time of the loan, the company had 25 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 $528,000 loan. Remember, if it to be, it is up to me!

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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