Loan to Buy Planet Smoothie Franchise Issued By Wells Fargo Bank

Need a loan to buy a Planet Smoothie franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Planet Smoothie franchise? If so, here's a 2004 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Englewood, Colorado.

SBA Loan Borrower

PLANET SMOOTHIE
ENGLEWOOD, CO 80110

SBA Loan Lender

WELLS FARGO BANK
90 S 7TH ST
MINNEAPOLIS, MN 55402

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

722211 - Limited-Service Restaurants

Loan Approval Date

2/4/2004

Loan Approval Gross Amount

$129,100

Loan Approval from the SBA

Of the total $129,100 loan amount, the SBA guaranteed $109,735.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Planet Smoothie franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

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

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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

Obtaining Funding - How to Borrow Money

Best Minneapolis, Minnesota Banks for Small Business

Getting an SBA Loan in Minnesota