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April 16, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Quality,Inn Loan | ||||
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Loans to Buy a Franchise in South Carolina
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South Carolina Entrepreneur Secures Financing to Buy Choice Hotels International Inc. FranchiseBorrowing money to buy a Choice Hotels International Inc. franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Choice Hotels International Inc. franchise shouldn't be overly burdensome. In 2006, Business Loan Center, LLC issued an SBA franchise loan to an entrepreneur in Ridgeland, South Carolina. Because Choice Hotels International Inc. was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis. SBA Loan Borrower QUALITY,INN SBA Loan Lender BUSINESS LOAN CENTER, LLC 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 10/23/2006 Loan Approval Gross Amount $1,155,000 Loan Approval from the SBA Of the total $1,155,000 loan amount, the SBA guaranteed $866,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 8 existing jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Choice Hotels International, Inc. SBA Banks in New York, New York
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