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November 29, 2020  
 
 
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Requirements for Borrowing Money to Buy a Franchise

 

 
Loan Census SBA Loan Info

Graham, TX Entrepreneur Gets SBA Loan to Buy Choice Hotels International Inc. Franchise

Need a loan to buy a Choice Hotels International Inc. franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Choice Hotels International Inc. franchise is doable. In 2003, Business Loan Center, LLC issued an SBA franchise loan to an entrepreneur in Graham, Texas. Because Choice Hotels International Inc. was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

EXECUTIVE INN
GRAHAM, TX 76450

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$910,000

Loan Approval from the SBA

Of the total $910,000 loan amount, the SBA guaranteed $682,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $910,000 loan. Remember, feel the fear, and do it anyway.

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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