1st Source Bank Provides SBA Loan to Buy Real Living Lifestyles Realty Franchise

Borrowing money to purchase a Real Living Lifestyles Realty franchise? 1st Source Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Real Living Lifestyles Realty franchise? If so, here's a 2007 SBA franchise loan that you should know about. 1st Source Bank was the lender and the entrepreneur was based in South Bend, Indiana.

SBA Loan Borrower

REAL LIVING LIFESTYLES REALTY
SOUTH BEND, IN 46637

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

531210 - Real Estate Agents and Brokers

Loan Approval Date

9/7/2007

Loan Approval Gross Amount

$98,300

Loan Approval from the SBA

Of the total $98,300 loan amount, the SBA guaranteed $49,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Real Living Lifestyles Realty franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $98,300 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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SBA Banks in South Bend, Indiana

Where to Get an SBA Loan Indiana