Loan to Buy Plato's Closet Franchise Issued By Banco Popular North America

Borrowing money to purchase a Plato's Closet franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

If you live near Orlando, Florida and are interested in buying a Plato's Closet franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Banco Popular North America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PLATO'S CLOSET
ORLANDO, FL 32809

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

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

448140 - Family Clothing Stores

Loan Approval Date

12/4/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 only one employee. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Banco Popular North America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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