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

Need a loan to invest in a Howard Johnson franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Howard Johnson franchise? If so, here's a 2003 SBA franchise loan that you should know about. Small Business Loan Source LLC was the lender and the entrepreneur was based in Battleboro, North Carolina.

SBA Loan Borrower

HOWARD JOHNSON
BATTLEBORO, NC 27809

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/21/2003

Loan Approval Gross Amount

$993,000

Loan Approval from the SBA

Of the total $993,000 loan amount, the SBA guaranteed $744,750.

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 12 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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 Small Business Loan Source LLC 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:

Howard Johnson International, Inc.

Howard Johnson Franchise Canada Inc.

SBIR Funding

SBA Participating Banks in Houston, Texas

Where to Get an SBA Loan Texas