Loan to Buy Planet Beach Franchise Issued By City Bank And Trust Company

Borrowing money to buy a Planet Beach franchise? City Bank And Trust Company has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Shreveport, Louisiana needed money to invest in a Planet Beach franchise back in 2003. City Bank And Trust Company issued an SBA franchise loan. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

PLANET BEACH
SHREVEPORT, LA 71458

SBA Loan Lender

CITY BANK AND TRUST COMPANY
600 COLLEGE AVE
NATCHITOCHES, LA 71457

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

4/3/2003

Loan Approval Gross Amount

$134,100

Loan Approval from the SBA

Of the total $134,100 loan amount, the SBA guaranteed $113,985.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Planet Beach franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like City Bank And Trust Company and they will explain how you can get an SBA loan for your company.

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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Small Business Banks in Natchitoches, Louisiana

Louisiana SBA 7A Lenders