Loan to Buy Fairfield Inn Franchise Issued By Commerce Bank

Borrowing money to buy a Fairfield Inn franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Fairfield Inn franchise loans are available to Avenel, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Commerce Bank, based in Philadelphia, Pennsylvania, issued an SBA franchise loan for a Fairfield Inn franchise in 2003. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

FAIRFIELD INN & SUITES
AVENEL, NJ 07001

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/10/2003

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fairfield Inn franchise. At the time of the loan, the company had 43 employees. This SBA loan request indicated that the loan would help retain 43 existing jobs.

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Fairfield Inns by Marriott

Business Credit Evaluation

SBA Banks in Philadelphia, Pennsylvania

Getting an SBA Loan in Pennsylvania