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May 9, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Super 8 Monroe Loan | ||||
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Business Loan Center, LLC SBA 7A Franchise Loans
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Loan to Buy Super 8 Motel Franchise Issued By Business Loan Center, LLCNeed money to purchase a Super 8 Motel franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Monroe, Ohio needed money to invest in a Super 8 Motel franchise back in 2002. Business Loan Center, LLC issued an SBA franchise loan. Here are the details on this Ohio small business loan. SBA Loan Borrower SUPER 8 MONROE SBA Loan Lender BUSINESS LOAN CENTER, LLC As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 9/28/2002 Loan Approval Gross Amount $1,078,000 Loan Approval from the SBA Of the total $1,078,000 loan amount, the SBA guaranteed $808,500. 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 2 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Business Loan Center, LLC that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Richmond, Virginia Banks for Small Business
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