Magic Valley Bank A Division - Provides SBA Loan to Buy Re/max Realty Franchise

Borrowing money to buy a Re/max Realty franchise? Magic Valley Bank A Division - has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Re/max Realty franchise requires some effort but others before you have been successful. In 2003, Magic Valley Bank A Division - issued an SBA franchise loan to an entrepreneur in Twin Falls, Idaho. Because Re/max Realty was registered with the SBA's registry of franchises, this Idaho small business loan was issued on an expedited basis.

SBA Loan Borrower

RE/MAX AMERICAN DREAM REALTY
TWIN FALLS, ID 83301

SBA Loan Lender

MAGIC VALLEY BANK A DIVISION -
113 MAIN AVE WEST
TWIN FALLS, ID 83301

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531390 - Activities Related to Real Estate

Loan Approval Date

12/29/2003

Loan Approval Gross Amount

$77,500

Loan Approval from the SBA

Of the total $77,500 loan amount, the SBA guaranteed $65,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Re/max Realty franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Magic Valley Bank A Division - so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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