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May 6, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Microtel Inn & Suites Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Augusta, GA Entrepreneur Gets SBA Loan to Buy Microtel FranchiseNeed a loan to purchase a Microtel franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Microtel franchise requires some effort but others before you have been successful. In 2003, Small Business Loan Source LLC issued an SBA franchise loan to an entrepreneur in Augusta, Georgia. Because Microtel was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis. SBA Loan Borrower MICROTEL INN & SUITES SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 5/23/2003 Loan Approval Gross Amount $1,333,000 Loan Approval from the SBA Of the total $1,333,000 loan amount, the SBA guaranteed $999,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Microtel franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Small Business Loan Source LLC 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:
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