Borrow Money to Buy a Hollywood Tans Franchise

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

Getting money to buy a Hollywood Tans franchise shouldn't be overly burdensome. In 2003, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Brandon, Florida. Because Hollywood Tans was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

HOLLYWOOD TANS
BRANDON, FL 33511

SBA Loan Lender

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

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

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

12/12/2003

Loan Approval Gross Amount

$253,500

Loan Approval from the SBA

Of the total $253,500 loan amount, the SBA guaranteed $190,125.

More Information on This SBA Loan

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

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

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Hollywood Tans

Obtaining Funding - Getting Venture Capital

Good Banks for Small Business in Livingston, New Jersey

Getting an SBA Loan in New Jersey