Borrow Money to Buy a Marriott Hotel Franchise
Borrowing money to invest in a Marriott Hotel franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Marriott Hotel franchise? If so, here's a 2002 SBA franchise loan that you should know about. Commerce Bank was the lender and the entrepreneur was based in Ronkonkoma, New York.
SBA Loan Borrower
COURTYARD BY MARRIOTT LONG ISL
RONKONKOMA, NY 11779
SBA Loan Lender
2005 MARKET ST
PHILADELPHIA, PA 19103
This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
721110 - Hotels and Motels
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Marriott Hotel franchise. At the time of the loan, the company
had 2 employees. The SBA loan documents indicated that the loan would help generate 43 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
We've showcased information on this loan to let you know that businesses like yours 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.
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