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May 1, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Winston Salem, Business Loans > Wachovia Bank Winston Salem Business Loans > Hollywood Tans Loan | ||||
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Requirements for Borrowing Money to Buy a Franchise
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Borrow Money to Buy a Hollywood Tans FranchiseBorrowing money to purchase a Hollywood Tans franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Kennesaw, Georgia needed money to invest in a Hollywood Tans franchise back in 2002. Wachovia Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan. SBA Loan Borrower HOLLYWOOD TANS SBA Loan Lender WACHOVIA BANK This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 6/20/2002 Loan Approval Gross Amount $167,300 Loan Approval from the SBA Of the total $167,300 loan amount, the SBA guaranteed $125,475. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Hollywood Tans franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 10 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA 7A Banks for Winston Salem, North Carolina Loans
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