Loan to Buy Comfort Suites Franchise Issued By Hanmi Bank

Borrowing money to purchase a Comfort Suites franchise? Hanmi Bank has a history of making these loans and they are guaranteed by the SBA.

Comfort Suites franchise loans are available to Cathedral City, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Hanmi Bank, based in Los Angeles, California, issued an SBA franchise loan for a Comfort Suites franchise in 2002. We've got all the details on this California small business loan.

SBA Loan Borrower

COMFORT SUITES CATHEDRAL CITY
CATHEDRAL CITY, CA 92234

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, PH-A
LOS ANGELES, CA 90010

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

12/2/2002

Loan Approval Gross Amount

$1,330,000

Loan Approval from the SBA

Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Comfort Suites franchise. At the time of the loan, the company had 14 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Comfort Suites

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SBA Approved Banks in Los Angeles, California

Getting an SBA Loan in California