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April 24, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Econo Lodge Loan | ||||
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Federal Way, Washington Bank for SBA Loans
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Federal Way, WA Entrepreneur Gets SBA Loan to Buy Choice Hotels International Inc. FranchiseBorrowing money to purchase a Choice Hotels International Inc. franchise? Center Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Choice Hotels International Inc. franchise? If so, here's a 2006 SBA franchise loan that you should know about. Center Bank was the lender and the entrepreneur was based in Federal Way, Washington. SBA Loan Borrower ECONO LODGE SBA Loan Lender CENTER 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. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/2/2006 Loan Approval Gross Amount $1,800,000 Loan Approval from the SBA Of the total $1,800,000 loan amount, the SBA guaranteed $1,350,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,800,000 loan. Remember, you control your own destiny. 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: Choice Hotels International, Inc. SBA 7A Banks for Los Angeles, California Loans
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