First United Bank & Trust Provides SBA Loan to Buy Hollywood Tans Franchise

Need money to buy a Hollywood Tans franchise? First United Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Hollywood Tans franchise loans are available to Charles Town, West Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First United Bank & Trust, based in Martinsburg, West Virginia, issued an SBA franchise loan for a Hollywood Tans franchise in 2006. We've got all the details on this West Virginia small business loan.

SBA Loan Borrower

JS TANS, LLC
CHARLES TOWN, WV 25414

SBA Loan Lender

FIRST UNITED BANK & TRUST
1286 EDWIN MILLER BLVD
MARTINSBURG, WV 25401

This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

2/1/2006

Loan Approval Gross Amount

$266,500

Loan Approval from the SBA

Of the total $266,500 loan amount, the SBA guaranteed $199,875.

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 10 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 $266,500 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.

Related Links:

Hollywood Tans

Business Line of Credit

Best Martinsburg, West Virginia Banks for Small Business

SBA Participating Banks in West Virginia