Missouri Entrepreneur Secures Financing to Buy Planet Beach Franchise

Need money to buy a Planet Beach franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Planet Beach franchise? If so, here's a 2004 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Lee's Summit, Missouri.

SBA Loan Borrower

PLANET BEACH
LEE'S SUMMIT, MO 64063

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

9/14/2004

Loan Approval Gross Amount

$202,900

Loan Approval from the SBA

Of the total $202,900 loan amount, the SBA guaranteed $152,175.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Planet Beach franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the borrowed money would help create 6 new jobs.

Getting an SBA Loan For Your Business

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? 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.

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