Texas Entrepreneur Secures Financing to Buy Best Western Inn Franchise

Need a loan to invest in a Best Western Inn franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Best Western Inn franchise? If so, here's a 2003 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Addison, Texas.

SBA Loan Borrower

BEST WESTERN ADDISON GALLERIA
ADDISON, TX 75001

SBA Loan Lender

COMERICA BANK
455 CAPITAL MALL, STE 115
SACRAMENTO, CA 95814

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$900,600

Loan Approval from the SBA

Of the total $900,600 loan amount, the SBA guaranteed $675,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Best Western Inn franchise. At the time of the loan, the company had 17 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Comerica Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 Western Inn

Obtaining Funding - Friends and Family

Small Bank Loans in Sacramento, California

SBA California Banks