Business Loan Express Continues Expansion Through $128 Million Acquisition.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 4, 2003 Business Loan Express, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (BLX BLX Business Line Expert BLX Basic Launch Complex BLX British Legion of Xbox (gaming clan) ) announced today that it acquired $128 million in performing small business loans and other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. from Dallas-based Amresco AMRESCO was the new name given to "Financial Resource Management, Inc." (FRMI), a subsidiary of the NCNB Texas National Bank in 1992. The subsidiary was created in 1990 after NCNB's name took a beating in the Texas market, after it successfully bidded and acquired the failed Independence Funding, Inc. Post acquisition, BLX will manage a portfolio of small business loans in excess of $2 billion, and the company now serves over 2,800 small business borrowers. In conjunction with the acquisition, BLX will open ten new lending offices bringing its total offices throughout the country to 47. "This was an excellent opportunity for BLX to acquire a well-underwritten loan portfolio and simultaneously hire a group of talented and experienced small business lending professionals. This acquisition will enable us to expand our reach to hundreds of additional small business owners in need of capital, through our 47 lending offices located throughout the nation," said Robert F. Tannenhauser, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Business Loan Express. "With our nationwide lending operations, we are able to bring the dream of successful small business ownership and greater economic development to more individuals, towns and cities across the country. " The Business Loan Express loan programs have been specially designed for small businesses with financing needs up to $5,000,000. BLX is a licensed participant in the SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government 7(a) guaranteed loan program and is an SBA Preferred lender in 68 markets across the country. About Business Loan Express Business Loan Express, LLC, is currently the country's second largest lender specializing in originating, selling, and servicing loans under the U.S. Small Business Administration's Section 7(a) Guaranteed Loan Program. In addition, Business Loan Express originates, sells and services conventional small business loans as well as loans through the SBA's 504 loan program, and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Department of Agriculture's Business & Industry Program. For more information, please visit the website at www.businessloanexpress.net. |
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