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November 14, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Days Inn Of Alamosa Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Center Bank Provides SBA Loan to Buy Days Inn FranchiseBorrowing money to purchase a Days Inn franchise? Center Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Alamosa, Colorado needed money to invest in a Days Inn franchise back in 2006. Center Bank issued an SBA franchise loan. Here are the details on this Colorado small business loan. SBA Loan Borrower DAYS INN OF ALAMOSA SBA Loan Lender CENTER BANK 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 7/21/2006 Loan Approval Gross Amount $851,000 Loan Approval from the SBA Of the total $851,000 loan amount, the SBA guaranteed $638,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Days Inn franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Find an SBA Lender in Los Angeles, California Browse All Business Loan Sources for California
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