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April 25, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Dallas, Business Loans > First Western Sblc, Inc Dallas Business Loans > Comfort Inn Loan | ||||
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Business Loans for Warrenton Small Businesses
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Loan to Buy Choice Hotels International Inc. Franchise Issued By First Western Sblc, IncBorrowing money to buy a Choice Hotels International Inc. franchise? First Western Sblc, Inc has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Choice Hotels International Inc. franchise? If so, here's a 2007 SBA franchise loan that you should know about. First Western Sblc, Inc was the lender and the entrepreneur was based in Warrenton, Missouri. SBA Loan Borrower COMFORT INN SBA Loan Lender FIRST WESTERN SBLC, INC 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 10/31/2007 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 10 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 10 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Approved Banks in Dallas, Texas
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