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May 2, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Best Inn Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Newtek Small Business Finance Inc. Provides SBA Loan to Buy Travelodge FranchiseNeed a loan to invest in a Travelodge franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Knoxville, Tennessee needed money to invest in a Travelodge franchise back in 2000. Newtek Small Business Finance Inc. issued an SBA franchise loan. Here are the details on this Tennessee small business loan. SBA Loan Borrower BEST INN SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 8/1/2000 Loan Approval Gross Amount $770,000 Loan Approval from the SBA Of the total $770,000 loan amount, the SBA guaranteed $577,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Travelodge franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $770,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Where to Get an SBA Loan in New York, New York Getting an SBA Loan in New York
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