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April 19, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Los Angeles, Business Loans > Hanmi Bank Los Angeles Business Loans > Comfort Inn Loan | ||||
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Houston, Texas Bank Loan
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Hanmi Bank Provides SBA Loan to Buy Choice Hotels International Inc. FranchiseBorrowing money to buy a Choice Hotels International Inc. franchise? Hanmi Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Houston, Texas and are interested in buying a Choice Hotels International Inc. franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Hanmi Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower COMFORT INN SBA Loan Lender HANMI BANK This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 12/20/2005 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 19 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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 Hanmi 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: Choice Hotels International, Inc. How Much Venture Capital Is There? Where to Get an SBA Loan in Los Angeles, California Find an SBA Lender in California
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