Loan to Buy Planet Beach Franchise Issued By Cit Small Business Lending Corp

Need money to buy a Planet Beach franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Duluth, Georgia needed money to invest in a Planet Beach franchise back in 2004. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

PLANET BEACH
DULUTH, GA 30097

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

9/3/2004

Loan Approval Gross Amount

$230,700

Loan Approval from the SBA

Of the total $230,700 loan amount, the SBA guaranteed $173,025.

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 2 employees. This SBA loan request indicated that the borrowed money would help generate 2 new 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $230,700 loan. Remember, where there is a will, there is a way!

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 Beach Tanning Spa

Obtaining Funding - Getting Venture Capital

SBA Banks in Livingston, New Jersey

New Jersey SBA Banks