Colorado Entrepreneur Secures Financing to Buy Planet Beach Franchise

Borrowing money to invest in a Planet Beach franchise? Norlarco Cu has a history of making these loans and they are guaranteed by the SBA.

If you live near Fort Collins, Colorado and are interested in buying a Planet Beach franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Norlarco Cu. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PLANET BEACH OF SOUTH FORT COL
FORT COLLINS, CO 80525

SBA Loan Lender

NORLARCO CU
2545 RESEARCH BLVD
FORT COLLINS, CO 80525

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446199 - Health and Personal Care Stores

Loan Approval Date

9/20/2006

Loan Approval Gross Amount

$281,673

Loan Approval from the SBA

Of the total $281,673 loan amount, the SBA guaranteed $211,255.

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. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $281,673 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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

Role of Business Plan When Raising Money

Good Banks for Small Business in Fort Collins, Colorado

Getting an SBA Loan in Colorado