Loan to Buy Sleep Inn Motel Franchise Issued By Branch Bank & Trust

Borrowing money to buy a Sleep Inn Motel franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Aiken, South Carolina and are interested in buying a Sleep Inn Motel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Branch Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GOLDEN BOY, LLC - SLEEP INN
AIKEN, SC 29803

SBA Loan Lender

BRANCH BANK & TRUST
1134 CLARK ST
COVINGTON, GA 30326

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/14/2004

Loan Approval Gross Amount

$1,470,000

Loan Approval from the SBA

Of the total $1,470,000 loan amount, the SBA guaranteed $1,102,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sleep Inn Motel franchise. At the time of the loan, the company had 20 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,470,000 loan. Remember, you control your own destiny.

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:

Sleep Inn and Sleep Inn & Suites

Advice on Getting a Small Business Loan

SBA 7A Banks for Covington, Georgia Loans

SBA Participating Banks in Georgia