Biloxi, MS Entrepreneur Gets SBA Loan to Buy Planet Beach Franchise

Need a loan to buy a Planet Beach franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Planet Beach franchise loans are available to Biloxi, Mississippi entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Planet Beach franchise in 2002. We've got all the details on this Mississippi small business loan.

SBA Loan Borrower

PLANET BEACH
BILOXI, MS 39532

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

When this loan was made, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to offer expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7299 - Personal Services

NAICS Code

812199 - Personal Care Services

Loan Approval Date

12/17/2002

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

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

If you want money for new small business in Biloxi MS, you ought to talk with a local Biloxi SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Biloxi businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $160,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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