Banco Popular North America Provides SBA Loan to Buy Massage Envy Franchise

Need a loan to purchase 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 shouldn't be overly burdensome. In 2008, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Summerville, South Carolina. Because Massage Envy was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

MASSAGE ENVY
SUMMERVILLE, SC 29483

SBA Loan Lender

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

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621399 - Health Practitioners

Loan Approval Date

2/7/2008

Loan Approval Gross Amount

$343,600

Loan Approval from the SBA

Of the total $343,600 loan amount, the SBA guaranteed $257,700.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Massage Envy franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 24 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Banco Popular North America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Banco Popular North America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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