Baltimore Highlands, MD Entrepreneur Gets SBA Loan to Buy Color Tyme Franchise

Borrowing money to invest in a Color Tyme franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Color Tyme franchise is doable. In 2007, Business Loan Center, LLC issued an SBA franchise loan to an entrepreneur in Baltimore Highlands, Maryland. Because Color Tyme was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis.

SBA Loan Borrower

COLOR TYME
BALTIMORE HIGHLANDS, MD 21230

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532210 - Consumer Electronics and Appliances Rental

Loan Approval Date

7/24/2007

Loan Approval Gross Amount

$1,912,000

Loan Approval from the SBA

Of the total $1,912,000 loan amount, the SBA guaranteed $1,434,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Color Tyme franchise. At the time of the loan, the company had 27 employees. The SBA loan documents indicated that the loan would help retain 27 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Baltimore Highlands or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

ColorTyme Rent To Own

Getting a Small Business Loan

SBA Banks in New York, New York

Getting an SBA Loan in New York