Colorado Entrepreneur Secures Financing to Buy Executive Tans Franchise

Need money to invest in an Executive Tans franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Executive Tans franchise requires some effort but others before you have been successful. In 2002, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Greenwood Village, Colorado. Because Executive Tans was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.

SBA Loan Borrower

EXECUTIVE TANS #133
GREENWOOD VILLAGE, CO 80111

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

812199 - Personal Care Services

Loan Approval Date

4/12/2002

Loan Approval Gross Amount

$214,500

Loan Approval from the SBA

Of the total $214,500 loan amount, the SBA guaranteed $160,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Executive Tans franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the borrowed money would help create 4 new jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $214,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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