Mississippi Entrepreneur Secures Financing to Buy Tan Company the Franchise

Borrowing money to invest in a Tan Company the franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

If you live near Gulfport, Mississippi and are interested in buying a Tan Company the franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2008 by Banco Popular North America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

THE TAN CO
GULFPORT, MS 39503

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

1/30/2008

Loan Approval Gross Amount

$415,100

Loan Approval from the SBA

Of the total $415,100 loan amount, the SBA guaranteed $311,325.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Tan Company the franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 $415,100 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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