Florida Entrepreneur Secures Financing to Buy Planet Smoothie Franchise

Borrowing money to invest in a Planet Smoothie franchise? First Comm. Bank - Florida has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Planet Smoothie franchise is doable. In 2003, First Comm. Bank - Florida issued an SBA franchise loan to an entrepreneur in Lake Mary, Florida. Because Planet Smoothie was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

PLANET SMOOTHIE
LAKE MARY, FL 32746

SBA Loan Lender

FIRST COMM. BANK - FLORIDA
3505 W LAKE MARY BLVD
LAKE MARY, FL 32746

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/20/2003

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Planet Smoothie franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Comm. Bank - Florida had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Comm. Bank - Florida made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Smoothie

Obtaining Funding - How to Borrow Money

Small Business Banks in Lake Mary, Florida

Getting a Business Loan in Florida