Borrow Money to Buy a Best Western Inn Franchise

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

Best Western Inn franchise loans are available to Austintown, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Huntington National Bank, based in Columbus, Ohio, issued an SBA franchise loan for a Best Western Inn franchise in 2007. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

COUNTRYSIDE INN, LLC (EPC) AND SUTHERLAND
Austintown, OH 44515

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

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

11/6/2007

Loan Approval Gross Amount

$1,975,000

Loan Approval from the SBA

Of the total $1,975,000 loan amount, the SBA guaranteed $1,481,250.

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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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 The Huntington National 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.

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Best Western Inn

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