Loan to Buy Planet Beach Franchise Issued By Cit Small Business Lending Corp

Need a loan to invest in a Planet Beach franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Planet Beach franchise shouldn't be too tough. In 2003, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Paradise Valley, Arizona. Because Planet Beach was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis.

SBA Loan Borrower

PLANET BEACH TANNING SALON-PHO
PARADISE VALLEY, AZ 85253

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

4/7/2003

Loan Approval Gross Amount

$168,000

Loan Approval from the SBA

Of the total $168,000 loan amount, the SBA guaranteed $126,000.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Paradise Valley AZ, you ought to talk with a local Paradise Valley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Paradise Valley businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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