Battleboro, NC Entrepreneur Gets SBA Loan to Buy Howard Johnson Franchise

Need money to purchase a Howard Johnson franchise? United Central Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Howard Johnson franchise shouldn't be overly burdensome. In 2007, United Central Bank issued an SBA franchise loan to an entrepreneur in Battleboro, North Carolina. Because Howard Johnson was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

HOWARD JOHNSON
BATTLEBORO, NC 27809

SBA Loan Lender

UNITED CENTRAL BANK
4555 W WALNUT ST
GARLAND, TX 75042

This lender provides SBA guaranteed 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

4/27/2007

Loan Approval Gross Amount

$1,715,000

Loan Approval from the SBA

Of the total $1,715,000 loan amount, the SBA guaranteed $1,286,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Howard Johnson franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 7 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Central Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Central Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Howard Johnson International, Inc.

Howard Johnson Franchise Canada Inc.

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