Loan to Buy Mystic Tan Franchise Issued By First State Bank
Need a loan to purchase a Mystic Tan franchise? First State Bank has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Mystic Tan franchise? If so, here's a 2000 SBA franchise loan that you should know about. First State Bank was the lender and the entrepreneur was based in Petersburg, Texas.
SBA Loan Borrower
PETERSBURG, TX 79250
SBA Loan Lender
FIRST STATE BANK
402 9TH ST
ABERNATHY, TX 79311
This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
7299 - Personal Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $121,600 loan amount, the SBA guaranteed $91,200.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Mystic Tan franchise. At the time of the loan, the company
had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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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