The First State Bank Provides SBA Loan to Buy Holiday Inn Franchise

Need money to invest in a Holiday Inn franchise? The First State Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Barboursville, West Virginia needed money to invest in a Holiday Inn franchise back in 2006. The First State Bank issued an SBA franchise loan. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

HUNTINGTON MALL HOLIDAY INN
BARBOURSVILLE, WV 25504

SBA Loan Lender

THE FIRST STATE BANK
660 CENTRAL AVE
BARBOURSVILLE, WV 25504

This business 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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/30/2006

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,360,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Holiday Inn franchise. At the time of the loan, the company had 60 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees 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.

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:

How to Raise Money

SBA Approved Banks in Barboursville, West Virginia

SBA West Virginia Lenders