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November 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Iowa City, Business Loans > Iowa St. Bank & Trust Iowa City Business Loans > Planet Beach Tanning Salon & S Loan | ||||
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Banks for Franchise Loans in Iowa
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Borrow Money to Buy a Planet Beach FranchiseBorrowing money to purchase a Planet Beach franchise? Iowa St. Bank & Trust has a history of making these loans and they are guaranteed by the SBA. Planet Beach franchise loans are available to Coralville, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Iowa St. Bank & Trust, based in Iowa City, Iowa, issued an SBA franchise loan for a Planet Beach franchise in 2005. We've got all the details on this Iowa small business loan. SBA Loan Borrower PLANET BEACH TANNING SALON & S SBA Loan Lender IOWA ST. BANK & TRUST The lender provided this SBA business 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 812199 - Personal Care Services Loan Approval Date 11/22/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Planet Beach franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 6 existing jobs. 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. 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 Iowa St. Bank & Trust 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: The Friends and Family Network Best Banks for Small Business in Iowa City, Iowa
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