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April 26, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Carlsbad, Business Loans > Western Commerce Bank Carlsbad Business Loans > Hampton Inn Loan | ||||
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Banks for Alamogordo, New Mexico Businesses
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Borrow Money to Buy a Hampton Inns FranchiseNeed money to buy a Hampton Inns franchise? Western Commerce Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Hampton Inns franchise requires some effort but others before you have been successful. In 2005, Western Commerce Bank issued an SBA franchise loan to an entrepreneur in Alamogordo, New Mexico. Because Hampton Inns was registered with the SBA's registry of franchises, this New Mexico small business loan was issued on an expedited basis. SBA Loan Borrower HAMPTON INN SBA Loan Lender WESTERN COMMERCE BANK This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 721110 - Hotels and Motels Loan Approval Date 10/18/2005 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Hampton Inns franchise. At the time of the loan, the company had 17 employees. The SBA loan application for the borrower indicated that the loan would help retain 17 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Western Commerce Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Hampton Inn/Hampton Inn & Suites SBA Participating Banks in Carlsbad, New Mexico
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