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April 28, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Comfort Inn Lynnwood Loan | ||||
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Lynnwood, Washington Bank Loan
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Innovative Bank Provides SBA Loan to Buy Comfort Inn FranchiseNeed money to purchase a Comfort Inn franchise? Innovative Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Comfort Inn franchise requires some effort but others before you have been successful. In 2006, Innovative Bank issued an SBA franchise loan to an entrepreneur in Lynnwood, Washington. Because Comfort Inn was registered with the SBA's registry of franchises, this Washington small business loan was issued on an expedited basis. SBA Loan Borrower COMFORT INN LYNNWOOD SBA Loan Lender INNOVATIVE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 7/28/2006 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Comfort Inn franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $2,000,000. How would you spend $2,000,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Small Bank Loans in Oakland, California
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