Lake Charles, LA Entrepreneur Gets SBA Loan to Buy Planet Beach Franchise

Need money to buy a Planet Beach franchise? Source Business & Indust Devel Cor has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Lake Charles, Louisiana needed money to invest in a Planet Beach franchise back in 2002. Source Business & Indust Devel Cor issued an SBA franchise loan. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

PLANET BEACH TANNING SALON
LAKE CHARLES, LA 70601

SBA Loan Lender

SOURCE BUSINESS & INDUST DEVEL COR
9400 OLD HAMMOND HIGHWAY,
BATON ROUGE, LA 70809

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

10/17/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Planet Beach franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Source Business & Indust Devel Cor are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Planet Beach Tanning Spa

How to Raise Money

SBA 7A Lenders in Baton Rouge, Louisiana

SBA Louisiana Banks