Massachusetts Entrepreneur Secures Financing to Buy Planet Beach Franchise

Borrowing money to buy a Planet Beach franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Planet Beach franchise loans are available to West Roxbury, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Comerica Bank, based in Sacramento, California, issued an SBA franchise loan for a Planet Beach franchise in 2005. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

PLANET BEACH TANNING
WEST ROXBURY, MA 02132

SBA Loan Lender

COMERICA BANK
455 CAPITAL MALL, STE 115
SACRAMENTO, CA 95814

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

6/9/2005

Loan Approval Gross Amount

$387,000

Loan Approval from the SBA

Of the total $387,000 loan amount, the SBA guaranteed $290,250.

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. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, 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.

We can help you find the best banks for small businesses in West Roxbury 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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