Kent Commerce Bank Provides SBA Loan to Buy Gymboree Franchise

Borrowing money to invest in a Gymboree franchise? Kent Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Gymboree franchise? If so, here's a 2002 SBA franchise loan that you should know about. Kent Commerce Bank was the lender and the entrepreneur was based in Grand Rapids, Michigan.

SBA Loan Borrower

GYMBOREE PLAY & MUSIC
GRAND RAPIDS, MI 49525

SBA Loan Lender

KENT COMMERCE BANK
4050 LAKE DR SE
KENTWOOD, MI 49546

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7999 - Amusement and Recreation Services

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

8/26/2002

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Gymboree franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Kent Commerce Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Gymboree Play & Music

Obtaining Funding - How to Decide How Much to Raise

Banks in Kentwood, Michigan

Michigan SBA Banks