Borrow Money to Buy a Planet Beach Franchise

Need a loan 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.

Getting money to buy a Planet Beach franchise requires some effort but others before you have been successful. In 2000, Source Business & Indust Devel Cor issued an SBA franchise loan to an entrepreneur in Prairieville, Louisiana. Because Planet Beach was registered with the SBA's registry of franchises, this Louisiana small business loan was issued on an expedited basis.

SBA Loan Borrower

PLANET BEACH TANNING SALON
PRAIRIEVILLE, LA 70769

SBA Loan Lender

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

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7299 - Personal Services

Loan Approval Date

8/2/2000

Loan Approval Gross Amount

$112,000

Loan Approval from the SBA

Of the total $112,000 loan amount, the SBA guaranteed $84,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Source Business & Indust Devel Cor 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.

Related Links:

Planet Beach Tanning Spa

Role of Business Plan When Raising Money

SBA 7A Banks in Baton Rouge, Louisiana

SBA Participating Banks in Louisiana