Borrow Money to Buy a Planet Beach Franchise

Need a loan to buy a Planet Beach franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.

If you live near Houston, Texas and are interested in buying a Planet Beach franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Newtek Small Business Finance Inc.. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PLANET BEACH
HOUSTON, TX 77084

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

4/3/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Newtek Small Business Finance Inc. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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