Miami, FL Entrepreneur Gets SBA Loan to Buy Planet Smoothie Franchise

Borrowing money to invest in a Planet Smoothie franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Miami, Florida needed money to invest in a Planet Smoothie franchise back in 2000. Bank Of The West issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

PLANET SMOOTHIE
MIAMI, FL 33178

SBA Loan Lender

BANK OF THE WEST
180 MONTGOMERY ST
SAN FRANCISCO, CA 94104

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

8/3/2000

Loan Approval Gross Amount

$84,000

Loan Approval from the SBA

Of the total $84,000 loan amount, the SBA guaranteed $67,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Planet Smoothie franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of The West are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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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