Barclay Farm, NJ Entrepreneur Gets SBA Loan to Buy Holiday Inn Franchise

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

Getting money to buy a Holiday Inn franchise is doable. In 2002, Unity Bank issued an SBA franchise loan to an entrepreneur in Barclay Farm, New Jersey. Because Holiday Inn was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

HOLIDAY INN EXPRESS
BARCLAY FARM, NJ 08009

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/28/2002

Loan Approval Gross Amount

$1,150,000

Loan Approval from the SBA

Of the total $1,150,000 loan amount, the SBA guaranteed $862,500.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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