Midsouth Bank-Texas Provides SBA Loan to Buy Howard Johnson Franchise

Need a loan to buy a Howard Johnson franchise? Midsouth Bank-Texas 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 too tough. In 2002, Midsouth Bank-Texas issued an SBA franchise loan to an entrepreneur in Beaumont, Texas. Because Howard Johnson was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

HOWARD JOHNSON EXPRESS INN & S
BEAUMONT, TX 77702

SBA Loan Lender

MIDSOUTH BANK-TEXAS
555 N DOWLEN RD
BEAUMONT, TX 77706

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/23/2002

Loan Approval Gross Amount

$1,350,000

Loan Approval from the SBA

Of the total $1,350,000 loan amount, the SBA guaranteed $999,999.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Howard Johnson franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Beaumont or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

Borrowing Money from Friends and Family

SBA Banks in Beaumont, Texas

Where to Get an SBA Loan Texas