Borrow Money to Buy a Tropical Smoothie Franchise

Borrowing money to purchase a Tropical Smoothie franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Las Vegas, Nevada needed money to invest in a Tropical Smoothie franchise back in 2007. Banco Popular North America issued an SBA franchise loan. Here are the details on this Nevada small business loan.

SBA Loan Borrower

LANE ENTERPRISE MGMT CORPORATI
LAS VEGAS, NV 89119

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

7/2/2007

Loan Approval Gross Amount

$516,500

Loan Approval from the SBA

Of the total $516,500 loan amount, the SBA guaranteed $387,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Tropical Smoothie franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Tropical Smoothie Cafe

Equity Financing

Banks in New York City, New York

Getting an SBA Loan in New York