Kansas City, MO Entrepreneur Gets SBA Loan to Buy Baymont Inns & Suites Franchise

Borrowing money to purchase a Baymont Inns & Suites franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Baymont Inns & Suites franchise shouldn't be too tough. In 2005, Community So. Bank D.B.A Commun issued an SBA franchise loan to an entrepreneur in Kansas City, Missouri. Because Baymont Inns & Suites was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis.

SBA Loan Borrower

BAYMONT INN & SUITES-HILLCREST
KANSAS CITY, MO 64138

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

This lender provides SBA small business loans 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

11/2/2005

Loan Approval Gross Amount

$1,395,000

Loan Approval from the SBA

Of the total $1,395,000 loan amount, the SBA guaranteed $1,046,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Baymont Inns & Suites franchise. At the time of the loan, the company had 15 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Kansas City or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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