Ohio Entrepreneur Secures Financing to Buy Massage Envy Franchise

Need money to buy a Massage Envy franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Massage Envy franchise shouldn't be too tough. In 2007, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Beachwood, Ohio. Because Massage Envy was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

MASSAGE ENVY
BEACHWOOD, OH 44122

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, 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

621399 - Health Practitioners

Loan Approval Date

11/30/2007

Loan Approval Gross Amount

$409,200

Loan Approval from the SBA

Of the total $409,200 loan amount, the SBA guaranteed $306,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Massage Envy franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the borrowed money would help generate 13 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Banco Popular North America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Banco Popular North America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Massage Envy

Obtaining Funding - How to Borrow Money

Best Banks for Small Business in New York City, New York

New York SBA Banks