Community So. Bank D.B.A Commun Provides SBA Loan to Buy Planet Smoothie Franchise

Borrowing money to invest in a Planet Smoothie franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Planet Smoothie franchise? If so, here's a 2006 SBA franchise loan that you should know about. Community So. Bank D.B.A Commun was the lender and the entrepreneur was based in Orlando, Florida.

SBA Loan Borrower

PLANET SMOOTHIE
ORLANDO, FL 32801

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

2/28/2006

Loan Approval Gross Amount

$209,000

Loan Approval from the SBA

Of the total $209,000 loan amount, the SBA guaranteed $156,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Planet Smoothie franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Smoothie

Obtaining Funding - Friends and Family

SBA 7A Banks for Parsons, Tennessee Loans

Browse All Business Loan Sources for Tennessee