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May 5, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Scottish Inns & Suites And D&i Loan | ||||
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Best Banks for Franchise Loans in New York
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Commerce Bank Provides SBA Loan to Buy Scottish Inns FranchiseBorrowing money to buy a Scottish Inns franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Schenectady, New York needed money to invest in a Scottish Inns franchise back in 2002. Commerce Bank issued an SBA franchise loan. Here are the details on this New York small business loan. SBA Loan Borrower SCOTTISH INNS & SUITES AND D&I SBA Loan Lender COMMERCE BANK This lender provides SBA small business loans 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 12/26/2002 Loan Approval Gross Amount $1,275,000 Loan Approval from the SBA Of the total $1,275,000 loan amount, the SBA guaranteed $956,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Scottish Inns franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 9 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $1,275,000. How would you spend $1,275,000 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: SBA Banks in Philadelphia, Pennsylvania
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