Floral Park, NY Entrepreneur Gets SBA Loan to Buy Hollywood Tans Franchise
Need a loan to buy a Hollywood Tans franchise? National Penn Bank has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Hollywood Tans franchise? If so, here's a 2001 SBA franchise loan that you should know about. National Penn Bank was the lender and the entrepreneur was based in Floral Park, New York.
SBA Loan Borrower
HOLLYWOOD TANNING SYSTEMS
FLORAL PARK, NY 12345
SBA Loan Lender
NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512
This lender issued this particular commercial 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
7299 - Personal Services
NAICS Code
812990 - Personal Services
Loan Approval Date
7/30/2001
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Hollywood Tans franchise. At the time of the loan, the company
had 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
While you may be able to find business people willing to loan money, 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:
Hollywood Tans
Obtaining Funding - Friends and Family
SBA 7A Banks for Boyertown, Pennsylvania Loans
Where to Get an SBA Loan Pennsylvania