Pennsylvania Entrepreneur Secures Financing to Buy Hollywood Tans Franchise

Borrowing money to invest in a Hollywood Tans franchise? Td Banknorth has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Hollywood Tans franchise may simply require a phone call to a local SBA banker. In 2000, Td Banknorth issued an SBA franchise loan to an entrepreneur in Glendale Gardens, Pennsylvania. Because Hollywood Tans was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

HOLLYWOOD TANS
GLENDALE GARDENS, PA 19036

SBA Loan Lender

TD BANKNORTH
1000 MACARTHUR BLVD
MAHWAH, NJ 07430

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

812112 - Beauty Salons

Loan Approval Date

12/8/2000

Loan Approval Gross Amount

$113,000

Loan Approval from the SBA

Of the total $113,000 loan amount, the SBA guaranteed $84,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hollywood Tans franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Td Banknorth and they will explain how you can get an SBA loan for your company.

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.

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