RMO in California

by a searcher from Yale University - School of Management

1 month ago

Does anyone have experience using a responsible managing officer (RMO) to qualify a business with a contractors license in California? We're in the process of getting one and would love to ask a few questions

Thanks!

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11 comments

searcher from Keller Graduate School of Management of DeVry University

If you have experience in a similar field you can qualify yourself. The exams are challenging but not difficult.

1 month ago | like reply | 0 likes

searcher from The University of Chicago - Booth School of Business

^Searchfunder member‌ I had to do this when I bought my company and as ^Searchfunder member‌ mentioned you can have the Seller hold the license if the bank is ok with it. My SBA lender wanted the seller to have a clean break from the business and me to own 100% (RMO requires 20% ownership). So had to go the RME route.

1 month ago | like reply | 0 likes

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