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April 20, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Best Western Of Cambridge Loan | ||||
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How to Get SBA Loans in Cambridge, Ohio
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Cambridge, OH Entrepreneur Gets SBA Loan to Buy Best Western Inn FranchiseBorrowing money to purchase a Best Western Inn franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Cambridge, Ohio needed money to invest in a Best Western Inn franchise back in 2003. Small Business Loan Source LLC issued an SBA franchise loan. Here are the details on this Ohio small business loan. SBA Loan Borrower BEST WESTERN OF CAMBRIDGE SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 5/7/2003 Loan Approval Gross Amount $1,333,000 Loan Approval from the SBA Of the total $1,333,000 loan amount, the SBA guaranteed $999,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Best Western Inn franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,333,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA Participating Banks in Houston, Texas Getting a Business Loan in Texas
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