Minnesota Entrepreneur Secures Financing to Buy Planet Beach Franchise

Need money to invest in a Planet Beach franchise? M&i Marshall & Ilsley Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Planet Beach franchise is doable. In 2005, M&i Marshall & Ilsley Bank issued an SBA franchise loan to an entrepreneur in Tonka Bay, 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

MNJ ENTERPRISES, INC.
Tonka Bay, MN 55331

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
770 N WATER ST
MILWAUKEE, WI 53202

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

6/2/2005

Loan Approval Gross Amount

$321,960

Loan Approval from the SBA

Of the total $321,960 loan amount, the SBA guaranteed $241,470.

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 2 employees. This SBA loan request indicated that the borrowed money would help create 5 new jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Tonka Bay or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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