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November 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Olathe, Business Loans > 1st National Bank - Ola Olathe Business Loans > Planet Sub Lee Summit Loan | ||||
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Raising Money in Lee's Summit, Missouri With SBA Loans
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1st National Bank - Ola Provides SBA Loan to Buy Planet Sub FranchiseBorrowing money to invest in a Planet Sub franchise? 1st National Bank - Ola has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Planet Sub franchise? If so, here's a 2001 SBA franchise loan that you should know about. 1st National Bank - Ola was the lender and the entrepreneur was based in Lee's Summit, Missouri. SBA Loan Borrower PLANET SUB LEE SUMMIT SBA Loan Lender 1ST NATIONAL BANK - OLA 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 722211 - Limited-Service Restaurants Loan Approval Date 7/12/2001 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Planet Sub franchise. At the time of the loan, the company had 70 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 60 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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:
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