Borrow Money to Buy a Gymboree Franchise

Borrowing money to invest in a Gymboree 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 Gymboree franchise? If so, here's a 2001 SBA franchise loan that you should know about. National City Bank was the lender and the entrepreneur was based in Jupiter, Florida.

SBA Loan Borrower

GYMBOREE PLAY & MUSIC
JUPITER, FL 33476

SBA Loan Lender

NATIONAL CITY BANK
205 DATURA ST
WEST PALM BEACH, FL 33401

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7993 - Coin-Operated Amusement Devices

NAICS Code

713120 - Amusement Arcades

Loan Approval Date

4/12/2001

Loan Approval Gross Amount

$64,250

Loan Approval from the SBA

Of the total $64,250 loan amount, the SBA guaranteed $54,612.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Gymboree franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Gymboree Play & Music

The Art of Bootstrapping

SBA 7A Lenders in West Palm Beach, Florida

SBA Participating Banks in Florida