Loan to Buy Planet Beach Franchise Issued By Red River Bank

Borrowing money to purchase a Planet Beach franchise? Red River Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Planet Beach franchise may simply require a phone call to a local SBA banker. In 2005, Red River Bank issued an SBA franchise loan to an entrepreneur in Natchitoches, Louisiana. Because Planet Beach was registered with the SBA's registry of franchises, this Louisiana small business loan was issued on an expedited basis.

SBA Loan Borrower

PLANET BEACH TANNING SERVICE
NATCHITOCHES, LA 71457

SBA Loan Lender

RED RIVER BANK
1412 CENTRE COURT DR, STE 101
ALEXANDRIA, LA 71301

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

8/11/2005

Loan Approval Gross Amount

$124,000

Loan Approval from the SBA

Of the total $124,000 loan amount, the SBA guaranteed $105,400.

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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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

Business Line of Credit

Small Bank Loans in Alexandria, Louisiana

Getting an SBA Loan in Louisiana