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December 20, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Bristol, Business Loans > Superior Bank Bristol Business Loans > Planet Beach Tanning Salon Loan | ||||
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Fort Walton Beach, Florida Bank for SBA Loans
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Borrow Money to Buy a Planet Beach FranchiseNeed a loan to buy a Planet Beach franchise? Superior Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Fort Walton Beach, Florida needed money to invest in a Planet Beach franchise back in 2001. Superior Bank issued an SBA franchise loan. Here are the details on this Florida small business loan. SBA Loan Borrower PLANET BEACH TANNING SALON SBA Loan Lender SUPERIOR BANK 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. SIC Code 7299 - Personal Services NAICS Code 812990 - Personal Services Loan Approval Date 3/20/2001 Loan Approval Gross Amount $132,000 Loan Approval from the SBA Of the total $132,000 loan amount, the SBA guaranteed $112,200. 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. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Superior Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Superior Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - How to Decide How Much to Raise Where to Get an SBA Loan in Bristol, Florida
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