Loan to Buy Hollywood Tans Franchise Issued By Td Banknorth

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.

An entrepreneur in Glenolden, Pennsylvania needed money to invest in a Hollywood Tans franchise back in 2002. Td Banknorth issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

HOLLYWOOD TANS
GLENOLDEN, PA 19036

SBA Loan Lender

TD BANKNORTH
1000 MACARTHUR BLVD
MAHWAH, NJ 07430

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

2/13/2002

Loan Approval Gross Amount

$33,700

Loan Approval from the SBA

Of the total $33,700 loan amount, the SBA guaranteed $28,645.

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 16 employees. The SBA loan application for the borrower indicated that the loan would help retain 16 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Td Banknorth and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Understanding Dilution

SBA Banks in Mahwah, New Jersey

SBA Lenders in New Jersey