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April 19, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Days Inn Loan | ||||
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Raising Money in Benton, Arkansas With SBA Loans
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Washington Mutual Bank Provides SBA Loan to Buy Days Inn FranchiseNeed money to purchase a Days Inn franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Benton, Arkansas needed money to invest in a Days Inn franchise back in 2000. Washington Mutual Bank issued an SBA franchise loan. Here are the details on this Arkansas small business loan. SBA Loan Borrower DAYS INN SBA Loan Lender WASHINGTON MUTUAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. 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 8/21/2000 Loan Approval Gross Amount $940,000 Loan Approval from the SBA Of the total $940,000 loan amount, the SBA guaranteed $705,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Days Inn franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Washington Mutual Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Find an SBA Lender in Henderson, Nevada
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