Borrow Money to Buy a Planet Smoothie Franchise

Need money to buy a Planet Smoothie franchise? Textron Financial Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Planet Smoothie franchise shouldn't be overly burdensome. In 2000, Textron Financial Corp issued an SBA franchise loan to an entrepreneur in Charleston, South Carolina. Because Planet Smoothie was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

PLANET SMOOTHIE
CHARLESTON, SC 28405

SBA Loan Lender

TEXTRON FINANCIAL CORP
40 WESMINSTER ST
PROVIDENCE, RI 02903

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

7/26/2000

Loan Approval Gross Amount

$113,850

Loan Approval from the SBA

Of the total $113,850 loan amount, the SBA guaranteed $85,387.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Planet Smoothie franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Textron Financial Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Planet Smoothie

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Small Business Banks in Providence, Rhode Island

SBA Participating Banks in Rhode Island