Valley National Bank Provides SBA Loan to Buy One-Hour Moto Photo Franchise

Borrowing money to purchase an One-Hour Moto Photo franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an One-Hour Moto Photo franchise? If so, here's a 2003 SBA franchise loan that you should know about. Valley National Bank was the lender and the entrepreneur was based in Laurel, Maryland.

SBA Loan Borrower

TMS PHOTOGRAPHIC ENTERPRISES
LAUREL, MD 20707

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812922 - One-Hour Photofinishing

Loan Approval Date

2/26/2003

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an One-Hour Moto Photo franchise. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help generate 1 new job and retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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