Annapolis, MD Entrepreneur Gets SBA Loan to Buy One-Hour Moto Photo Franchise

Need a loan to invest in an One-Hour Moto Photo franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.

One-Hour Moto Photo franchise loans are available to Annapolis, Maryland entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Valley National Bank, based in North Plainfield, New Jersey, issued an SBA franchise loan for an One-Hour Moto Photo franchise in 2003. We've got all the details on this Maryland small business loan.

SBA Loan Borrower

TMS PHOTOGRAPHIC ENTERPRISES
ANNAPOLIS, MD 21401

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812922 - One-Hour Photofinishing

Loan Approval Date

4/4/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an One-Hour Moto Photo franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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