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May 17, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Super 8 In Kewanee Loan | ||||
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Business Loans for Kewanee Business Owners
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Kewanee, IL Entrepreneur Gets SBA Loan to Buy Super 8 Motel FranchiseNeed money to buy a Super 8 Motel franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Kewanee, Illinois needed money to invest in a Super 8 Motel franchise back in 2003. Newtek Small Business Finance Inc. issued an SBA franchise loan. Here are the details on this Illinois small business loan. SBA Loan Borrower SUPER 8 IN KEWANEE SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 12/2/2003 Loan Approval Gross Amount $1,225,000 Loan Approval from the SBA Of the total $1,225,000 loan amount, the SBA guaranteed $918,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Super 8 Motel franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: SBA Participating Banks in New York, New York
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