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July 22, 2024  
 
 
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SBA Franchise Lenders in Oregon

 

 
Loan Census SBA Loan Info

Oregon Entrepreneur Secures Financing to Buy Choice Hotels International Inc. Franchise

Need money to purchase a Choice Hotels International Inc. franchise? Saehan Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Choice Hotels International Inc. franchise may simply require a phone call to a local SBA banker. In 2006, Saehan Bank issued an SBA franchise loan to an entrepreneur in Newport, Oregon. Because Choice Hotels International Inc. was registered with the SBA's registry of franchises, this Oregon small business loan was issued on an expedited basis.

SBA Loan Borrower

COMFORT INN
NEWPORT, OR 97365

SBA Loan Lender

SAEHAN BANK
3580 WILSHIRE BLVD, STE 1500
LOS ANGELES, CA 90010

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/12/2006

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had 27 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 27 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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.

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