Virginia Entrepreneur Secures Financing to Buy Wingate Inns Franchise

Need money to invest in a Wingate Inns franchise? Provident Bank Of Maryland has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Wingate Inns franchise requires some effort but others before you have been successful. In 2000, Provident Bank Of Maryland issued an SBA franchise loan to an entrepreneur in Lexington, Virginia. Because Wingate Inns was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

WINGATE INNS
LEXINGTON, VA 24450

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and a deep knowledge SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

2/24/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wingate Inns franchise. At the time of the loan, the company had 11 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Provident Bank Of Maryland and they will explain how you can get an SBA loan for your company.

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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