Bank Of The West Provides SBA Loan to Buy Executive Tans Franchise

Need money to buy an Executive Tans franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Highlands Ranch, Colorado needed money to invest in an Executive Tans franchise back in 2003. Bank Of The West issued an SBA franchise loan. Here are the details on this Colorado small business loan.

SBA Loan Borrower

EXECUTIVE TANS
HIGHLANDS RANCH, CO 80129

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

8/19/2003

Loan Approval Gross Amount

$94,000

Loan Approval from the SBA

Of the total $94,000 loan amount, the SBA guaranteed $79,900.

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 did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of The West 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.

Related Links:

Executive Tans

Family and Friend Investors - Your First Financiers

Small Business Banks in Salt Lake City, Utah

Utah SBA Banks