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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minnetonka, Business Loans > Signature Bank Minnetonka Business Loans > Planet Beach Tanning Spa Of St Loan | ||||
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Raising Money in St Louis Park, Minnesota With SBA Loans
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Minnesota Entrepreneur Secures Financing to Buy Planet Beach FranchiseNeed money to purchase a Planet Beach franchise? Signature Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Planet Beach franchise may simply require a phone call to a local SBA banker. In 2006, Signature Bank issued an SBA franchise loan to an entrepreneur in St Louis Park, Minnesota. Because Planet Beach was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis. SBA Loan Borrower PLANET BEACH TANNING SPA OF ST SBA Loan Lender SIGNATURE BANK This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812199 - Personal Care Services Loan Approval Date 8/28/2006 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $150,000. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help create 5 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA Participating Banks in Minnetonka, Minnesota Browse All Business Loan Sources for Minnesota
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