Borrow Money to Buy a Plato's Closet Franchise

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

Want to borrow money to buy a Plato's Closet franchise? If so, here's a 2003 SBA franchise loan that you should know about. First Merchants Bank was the lender and the entrepreneur was based in Muncie, Indiana.

SBA Loan Borrower

PLATO'S CLOSET
MUNCIE, IN 47305

SBA Loan Lender

FIRST MERCHANTS BANK
200 E JACKSON ST
MUNCIE, IN 47305

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

3/26/2003

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Plato's Closet franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Merchants Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Plato's Closet

Equity Financing

SBA 7A Lenders in Muncie, Indiana

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