National City Bank Provides SBA Loan to Buy L. A. Tan Franchise

Need money to buy a L. A. Tan franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a L. A. Tan franchise? If so, here's a 2004 SBA franchise loan that you should know about. National City Bank was the lender and the entrepreneur was based in Hoffman Estates, Illinois.

SBA Loan Borrower

CV EXTREME TAN, INC. D/B/A LA
Hoffman Estates, IL 60195

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

7/15/2004

Loan Approval Gross Amount

$244,000

Loan Approval from the SBA

Of the total $244,000 loan amount, the SBA guaranteed $122,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a L. A. Tan franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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