Harvard, IL Entrepreneur Gets SBA Loan to Buy Curves For Women Franchise

Need a loan to buy a Curves For Women franchise? Citizens First National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Harvard, Illinois needed money to invest in a Curves For Women franchise back in 2002. Citizens First National Bank issued an SBA franchise loan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

L & M FITNESS INC.
HARVARD, IL 60033

SBA Loan Lender

CITIZENS FIRST NATIONAL BANK
925 SHOOTING PARK
PERU, IL 61354

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/24/2002

Loan Approval Gross Amount

$47,350

Loan Approval from the SBA

Of the total $47,350 loan amount, the SBA guaranteed $40,247.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Curves For Women franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

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 $47,350 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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