Commerce Bank Provides SBA Loan to Buy Hollywood Tans Franchise

Need money to invest in a Hollywood Tans franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Millville, New Jersey needed money to invest in a Hollywood Tans franchise back in 2005. Commerce Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

HOLLYWOOD TANA
MILLVILLE, NJ 08332

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

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

812199 - Personal Care Services

Loan Approval Date

1/4/2005

Loan Approval Gross Amount

$174,500

Loan Approval from the SBA

Of the total $174,500 loan amount, the SBA guaranteed $130,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hollywood Tans franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Hollywood Tans

Equity Financing

SBA Approved Banks in Philadelphia, Pennsylvania

Getting a Business Loan in Pennsylvania