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May 2, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Hollywood Tans Loan | ||||
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Valley National Bank SBA Franchise Loans
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Loan to Buy Hollywood Tans Franchise Issued By Valley National BankNeed a loan to buy a Hollywood Tans franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Hollywood Tans franchise may simply require a phone call to a local SBA banker. In 2001, Valley National Bank issued an SBA franchise loan to an entrepreneur in Brooklyn, New Jersey. Because Hollywood Tans was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis. SBA Loan Borrower HOLLYWOOD TANS SBA Loan Lender VALLEY NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 8/31/2001 Loan Approval Gross Amount $153,000 Loan Approval from the SBA Of the total $153,000 loan amount, the SBA guaranteed $114,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Hollywood Tans franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Valley National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Best Banks for Small Business in North Plainfield, New Jersey
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