Loan to Buy Massage Envy Franchise Issued By Banco Popular North America

Borrowing money to invest in a Massage Envy franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Massage Envy franchise may simply require a phone call to a local SBA banker. In 2006, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Plano, Texas. Because Massage Envy was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

MASSAGE ENVY
PLANO, TX 75093

SBA Loan Lender

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

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

621399 - Health Practitioners

Loan Approval Date

12/29/2006

Loan Approval Gross Amount

$470,000

Loan Approval from the SBA

Of the total $470,000 loan amount, the SBA guaranteed $352,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Massage Envy franchise. At the time of the loan, the company had 42 employees. The SBA loan documents indicated that the loan would help generate 53 new jobs and retain 95 existing jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need to find money for a business, 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.

Related Links:

Massage Envy

Alternative Financing

Small Bank Loans in New York City, New York

SBA Lenders in New York