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March 28, 2024  
 
 
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Loan Census SBA Loan Info

Texas Entrepreneur Secures Financing to Buy Gmac Real Estate Franchise

Need money to invest in a Gmac Real Estate franchise? First National Bank Of Arizona has a history of making these loans and they are guaranteed by the SBA.

If you live near Houston, Texas and are interested in buying a Gmac Real Estate franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by First National Bank Of Arizona. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GMAC REAL ESTATE
HOUSTON, TX 77027

SBA Loan Lender

FIRST NATIONAL BANK OF ARIZONA
17600 N PERIMETER DR
SCOTTSDALE, AZ 85255

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531210 - Real Estate Agents and Brokers

Loan Approval Date

5/13/2004

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 a new business. This loan was used to buy a Gmac Real Estate franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First National Bank Of Arizona that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

GMAC Home Services

The Friends and Family Network

Who Lends Money to Small Businesses in Scottsdale, Arizona

Getting an SBA Loan in Arizona