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May 1, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Canton, Business Loans > The Huntington National Bank Canton Business Loans > Super 8 Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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The Huntington National Bank Provides SBA Loan to Buy Super 8 Motel FranchiseBorrowing money to invest in a Super 8 Motel franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Super 8 Motel franchise? If so, here's a 2004 SBA franchise loan that you should know about. The Huntington National Bank was the lender and the entrepreneur was based in Kokomo, Indiana. SBA Loan Borrower SUPER 8 SBA Loan Lender THE HUNTINGTON NATIONAL BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 10/5/2004 Loan Approval Gross Amount $1,295,000 Loan Approval from the SBA Of the total $1,295,000 loan amount, the SBA guaranteed $971,250. 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 10 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Obtaining Funding - How to Decide How Much to Raise Best Banks for Small Business in Canton, Ohio
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