Loan to Buy Curves For Women Franchise Issued By 1st Source Bank

Borrowing money to buy a Curves For Women franchise? 1st Source Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Curves For Women franchise may simply require a phone call to a local SBA banker. In 2006, 1st Source Bank issued an SBA franchise loan to an entrepreneur in New Haven, Indiana. Because Curves For Women was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

CURVES OF NEW HAVEN
NEW HAVEN, IN 46774

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

1/24/2006

Loan Approval Gross Amount

$61,400

Loan Approval from the SBA

Of the total $61,400 loan amount, the SBA guaranteed $30,700.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Curves For Women franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st Source 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.

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