Baton Rouge, LA Entrepreneur Gets SBA Loan to Buy Planet Beach Franchise

Need money to buy a Planet Beach franchise? Source Business & Indust Devel Cor has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Baton Rouge, Louisiana needed money to invest in a Planet Beach franchise back in 2002. Source Business & Indust Devel Cor issued an SBA franchise loan. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

PLANET BEACH TANNING SALON
BATON ROUGE, LA 70818

SBA Loan Lender

SOURCE BUSINESS & INDUST DEVEL COR
9400 OLD HAMMOND HIGHWAY,
BATON ROUGE, LA 70809

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.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

9/10/2002

Loan Approval Gross Amount

$149,000

Loan Approval from the SBA

Of the total $149,000 loan amount, the SBA guaranteed $126,650.

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 loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, 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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Planet Beach Tanning Spa

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Baton Rouge, Louisiana

Louisiana SBA 7A Lenders