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May 4, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Sleep Inn Loan | ||||
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Business Loans for San Antonio Business Owners
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Borrow Money to Buy a Sleep Inn Motel FranchiseNeed money to buy a Sleep Inn Motel franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Sleep Inn Motel franchise? If so, here's a 2001 SBA franchise loan that you should know about. Washington Mutual Bank was the lender and the entrepreneur was based in San Antonio, Texas. SBA Loan Borrower SLEEP INN SBA Loan Lender WASHINGTON MUTUAL 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 2/15/2001 Loan Approval Gross Amount $1,165,000 Loan Approval from the SBA Of the total $1,165,000 loan amount, the SBA guaranteed $873,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Sleep Inn Motel franchise. At the time of the loan, the company had 24 employees. The SBA loan application for the borrower indicated that the loan would help retain 24 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Sleep Inn and Sleep Inn & Suites Good Banks for Small Business in Henderson, Nevada
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