Borrow Money to Buy a Planet Beach Franchise

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

An entrepreneur in Blue Bell, Pennsylvania needed money to invest in a Planet Beach franchise back in 2006. Penn Liberty Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

PLANET BEACH TANNING SALON
BLUE BELL, PA 19422

SBA Loan Lender

PENN LIBERTY BANK
353 W LANCASTER AVE
WAYNE, PA 19087

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7251 - Shoe Repair Shops and Shoeshine Parlors

NAICS Code

812990 - Personal Services

Loan Approval Date

8/21/2006

Loan Approval Gross Amount

$285,000

Loan Approval from the SBA

Of the total $285,000 loan amount, the SBA guaranteed $213,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Planet Beach franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $285,000 loan. Remember, you control your own destiny.

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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