Salin Bank & Trust Company Provides SBA Loan to Buy Curves For Women Franchise

Need money to buy a Curves For Women franchise? Salin Bank & Trust Company has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Curves For Women franchise? If so, here's a 2005 SBA franchise loan that you should know about. Salin Bank & Trust Company was the lender and the entrepreneur was based in Delphi, Indiana.

SBA Loan Borrower

CURVES
DELPHI, IN 46923

SBA Loan Lender

SALIN BANK & TRUST COMPANY
8455 KEYSTONE CROSSING DR, ST
INDIANAPOLIS, IN 46240

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

9/21/2005

Loan Approval Gross Amount

$98,000

Loan Approval from the SBA

Of the total $98,000 loan amount, the SBA guaranteed $83,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Curves For Women franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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:

Curves

Raising Venture Capital

SBA Approved Banks in Indianapolis, Indiana

Getting a Business Loan in Indiana