Loan to Buy Relax The Back Store Franchise Issued By Ocean Bank

Need a loan to purchase a Relax The Back Store franchise? Ocean Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Relax The Back Store franchise is doable. In 2007, Ocean Bank issued an SBA franchise loan to an entrepreneur in Burlington, Massachusetts. Because Relax The Back Store was registered with the SBA's registry of franchises, this Massachusetts small business loan was issued on an expedited basis.

SBA Loan Borrower

BG & DB ENTERPRISES, LLC
BURLINGTON, MA 01803

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

12/14/2007

Loan Approval Gross Amount

$297,000

Loan Approval from the SBA

Of the total $297,000 loan amount, the SBA guaranteed $148,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Relax The Back Store franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Relax The Back Corporation

Obtaining Funding - How to Decide How Much to Raise

Who Lends Money to Small Businesses in Portsmouth, New Hampshire

SBA New Hampshire Banks