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May 18, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Buffalo Grove, Business Loans > American Enterprise Bank Buffalo Grove Business Loans > Vm Property Inc Loan | ||||
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Small Business Banks for Warrensburg, Missouri Small Business Owners
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Missouri Entrepreneur Secures Financing to Buy Super 8 Motel FranchiseNeed money to buy a Super 8 Motel franchise? American Enterprise Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Warrensburg, Missouri and are interested in buying a Super 8 Motel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by American Enterprise Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower VM PROPERTY INC SBA Loan Lender AMERICAN ENTERPRISE 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 10/5/2007 Loan Approval Gross Amount $793,400 Loan Approval from the SBA Of the total $793,400 loan amount, the SBA guaranteed $595,050. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Super 8 Motel franchise. At the time of the loan, the company had 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Best Banks for Small Business in Buffalo Grove, Illinois
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