Indiana Entrepreneur Secures Financing to Buy Planet Beach Franchise

Need money to purchase a Planet Beach franchise? Banco Popular North America 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 2007, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Valparaiso, Indiana. Because Planet Beach was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

PLANET BEACH TANNING SALON
VALPARAISO, IN 46383

SBA Loan Lender

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

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

11/7/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 11 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 11 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

Related Links:

Planet Beach Tanning Spa

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New York SBA 7A Lenders