Loan to Buy Tan World Franchise Issued By American National Bank

Borrowing money to invest in a Tan World franchise? American National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Tan World franchise? If so, here's a 2006 SBA franchise loan that you should know about. American National Bank was the lender and the entrepreneur was based in Sioux City, Iowa.

SBA Loan Borrower

TAN WORLD
SIOUX CITY, IA 51106

SBA Loan Lender

AMERICAN NATIONAL BANK
116 N KIEL ST
HOLSTEIN, IA 51025

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 commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

5/17/2006

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Tan World franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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