Plainview, NY Entrepreneur Gets SBA Loan to Buy Clix Franchise

Borrowing money to invest in a Clix franchise? Mainstreet Bank has a history of making these loans and they are guaranteed by the SBA.

Clix franchise loans are available to Plainview, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Mainstreet Bank, based in Herndon, Virginia, issued an SBA franchise loan for a Clix franchise in 2006. We've got all the details on this New York small business loan.

SBA Loan Borrower

CLIX PORTRAIT STUDIO
PLAINVIEW, NY 11803

SBA Loan Lender

MAINSTREET BANK
727 ELDEN ST
HERNDON, VA 20170

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541921 - Photography Studios, Portrait

Loan Approval Date

2/10/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Clix franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Plainview NY, you ought to talk with a local Plainview SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Plainview businesses.

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