Loan to Buy Plato's Closet Franchise Issued By American Interstate Bank

Need money to purchase a Plato's Closet franchise? American Interstate Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Plato's Closet franchise may simply require a phone call to a local SBA banker. In 2005, American Interstate Bank issued an SBA franchise loan to an entrepreneur in Lincoln, Nebraska. Because Plato's Closet was registered with the SBA's registry of franchises, this Nebraska small business loan was issued on an expedited basis.

SBA Loan Borrower

PLATO'S CLOSET
LINCOLN, NE 68512

SBA Loan Lender

AMERICAN INTERSTATE BANK
701 GATEWAY RD
ELKHORN, NE 68022

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5932 - Used Merchandise Stores

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

10/26/2005

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Plato's Closet franchise. At the time of the loan, the company had 40 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $145,000. How would you spend $145,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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