Borrow Money to Buy a Partyland retail Party Goods Franchise

Need a loan to invest in a Partyland retail Party Goods franchise? First Choice Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Partyland retail Party Goods franchise? If so, here's a 2003 SBA franchise loan that you should know about. First Choice Bank was the lender and the entrepreneur was based in South Elgin, Illinois.

SBA Loan Borrower

PARTYLAND
SOUTH ELGIN, IL 60177

SBA Loan Lender

FIRST CHOICE BANK
1900 W STATE ST
GENEVA, IL 60134

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and a deep knowledge SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

9/4/2003

Loan Approval Gross Amount

$223,000

Loan Approval from the SBA

Of the total $223,000 loan amount, the SBA guaranteed $167,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Partyland retail Party Goods franchise. At the time of the loan, the company had 11 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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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