Loan to Buy Re/max Realty Franchise Issued By Wells Fargo Bank

Need a loan to purchase a Re/max Realty franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Shakopee, Minnesota needed money to invest in a Re/max Realty franchise back in 2004. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

RE/MAX ADVANTAGE PLUS
SHAKOPEE, MN 55379

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531210 - Real Estate Agents and Brokers

Loan Approval Date

12/21/2004

Loan Approval Gross Amount

$229,800

Loan Approval from the SBA

Of the total $229,800 loan amount, the SBA guaranteed $172,350.

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 7 employees. The SBA loan documents indicated that the loan would help create 5 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

Related Links:

RE/MAX International

How to Raise Money

SBA 7A Banks for San Jose, California Loans

SBA Participating Banks in California