Loan Census Banking News and Information
December 7, 2021  
 
 
  Business Loan Information  
 

Raising Money in West Palm Beach, Florida With SBA Loans

 

 
Loan Census SBA Loan Info

Loan to Buy Planet Smoothie Franchise Issued By 1st United Bank

Need a loan to buy a Planet Smoothie franchise? 1st United Bank 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 2005, 1st United Bank issued an SBA franchise loan to an entrepreneur in West Palm Beach, 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
WEST PALM BEACH, FL 33401

SBA Loan Lender

1ST UNITED BANK
5854 S FLAMINGO RD
COOPER CITY, FL 33330

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . 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.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

9/22/2005

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Planet Smoothie franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

A Company That Helps Entrepreneurs

Small Bank Loans in Cooper City, Florida

SBA Participating Banks in Florida