Austin, TX Entrepreneur Gets SBA Loan to Buy Massage Envy Franchise

Need money to invest in a Massage Envy franchise? First Bank has a history of making these loans and they are guaranteed by the SBA.

Massage Envy franchise loans are available to Austin, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Bank, based in Creve Coeur, Missouri, issued an SBA franchise loan for a Massage Envy franchise in 2006. We've got all the details on this Texas small business loan.

SBA Loan Borrower

MASSAGE ENVY
1904 SPANISH BAY COVE
AUSTIN, TX 78732

SBA Loan Lender

FIRST BANK
11901 OLIVE BLVD
CREVE COEUR, MO 63141

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Other Personal Care Services

Loan Approval Date

10/23/2006

Loan Approval Gross Amount

$243,000

Loan Approval from the SBA

Of the total $243,000 loan amount, the SBA guaranteed $182,250.

More Information on This SBA Loan

The borrower, Massage Envy, borrowed this money for an existing business. This loan was used to buy a Massage Envy franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 19 new jobs. This loan was paid in full, and was closed out on 10/3/2007.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Massage Envy needed a loan. First Bank probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, First Bank made the loan. The end result was that Massage Envy 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 SBA loan database.

Related Links:

Massage Envy

Business Credit Evaluation

Small Bank Loans in Creve Coeur, Missouri

SBA Lenders in Missouri

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.