Loan Census Banking News and Information
February 8, 2023  
 
 
  Business Loan Information  
 

I Need a Small Business Loan to Buy a Franchise in Abilene, Texas

 

 
Loan Census SBA Loan Info

1st National Bank - Baird Provides SBA Loan to Buy Best Western Inn Franchise

Borrowing money to buy a Best Western Inn franchise? 1st National Bank - Baird has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Best Western Inn franchise? If so, here's a 2000 SBA franchise loan that you should know about. 1st National Bank - Baird was the lender and the entrepreneur was based in Abilene, Texas.

SBA Loan Borrower

BEST WESTERN ABILENE INN & SUI
ABILENE, TX 79601

SBA Loan Lender

1ST NATIONAL BANK - BAIRD
1849 S FIRST ST
ABILENE, TX 79602

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

7/13/2000

Loan Approval Gross Amount

$262,640

Loan Approval from the SBA

Of the total $262,640 loan amount, the SBA guaranteed $196,980.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Best Western Inn franchise. At the time of the loan, the company had 14 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st National Bank - Baird that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 Western Inn

Obtaining Funding From a Venture Capitalist

SBA 7A Banks in Abilene, Texas

Texas SBA 7A Lenders