Loan to Buy Hampton Inns Franchise Issued By Merrill Lynch Bank Usa

Need a loan to purchase a Hampton Inns franchise? Merrill Lynch Bank Usa has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Hampton Inns franchise? If so, here's a 2000 SBA franchise loan that you should know about. Merrill Lynch Bank Usa was the lender and the entrepreneur was based in Laurel, Maryland.

SBA Loan Borrower

MT. LAUREL HOSPITALITY, LLC
LAUREL, MD 20707

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

This SBA bank loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

8/31/2000

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hampton Inns franchise. At the time of the loan, the company had 35 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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:

Hampton Inn/Hampton Inn & Suites

Business Line of Credit

Best Salt Lake City, Utah Banks for Small Business

Getting an SBA Loan in Utah