Mississippi Entrepreneur Secures Financing to Buy Planet Beach Franchise

Need money to purchase a Planet Beach franchise? Whitney National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Gulfport, Mississippi needed money to invest in a Planet Beach franchise back in 2003. Whitney National Bank issued an SBA franchise loan. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

K&T GIARDINA ENTERPRISES,LLC
GULFPORT, MS 39503

SBA Loan Lender

WHITNEY NATIONAL BANK
228 ST. CHARLES AVE
NEW ORLEANS, LA 70130

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

7/30/2003

Loan Approval Gross Amount

$97,200

Loan Approval from the SBA

Of the total $97,200 loan amount, the SBA guaranteed $82,620.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Planet Beach franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Gulfport MS, you ought to talk with a local Gulfport SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gulfport businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Whitney National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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