Cincinnati, OH Entrepreneur Gets SBA Loan to Buy Comfort Suites Franchise

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

Comfort Suites franchise loans are available to Cincinnati, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Centerbank, based in Milford, Ohio, issued an SBA franchise loan for a Comfort Suites franchise in 2007. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

NAYHEM LLC
CINCINNATI, OH 45241

SBA Loan Lender

CENTERBANK
744 STATE RTE 28
MILFORD, OH 45150

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

2/9/2007

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

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 4 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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

Financing Your Business

SBA Participating Banks in Milford, Ohio

SBA Ohio Banks