Borrow Money to Buy a Sona Laser Center Franchise

Need a loan to buy a Sona Laser Center franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sona Laser Center franchise may simply require a phone call to a local SBA banker. In 2005, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Grand Rapids, Michigan. Because Sona Laser Center was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

SONA MED SPA
GRAND RAPIDS, MI 49546

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

5/13/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sona Laser Center franchise. At the time of the loan, the company had 18 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 20 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Sona MedSpa

Getting a Small Business Loan

SBA Approved Banks in San Jose, California

California SBA 7A Lenders