Borrow Money to Buy a Planet Beach Franchise

Need money to buy a Planet Beach franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Planet Beach franchise loans are available to Midlothian, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Banco Popular North America, based in New York City, New York, issued an SBA franchise loan for a Planet Beach franchise in 2007. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

PLANET BEACH VILLAGE SQUARE
MIDLOTHIAN, VA 23114

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

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

812191 - Diet and Weight Reducing Centers

Loan Approval Date

3/30/2007

Loan Approval Gross Amount

$375,500

Loan Approval from the SBA

Of the total $375,500 loan amount, the SBA guaranteed $281,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Planet Beach franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

Related Links:

Planet Beach Tanning Spa

Small Business Credit Cards

Small Bank Loans in New York City, New York

SBA Lenders in New York