Texas Entrepreneur Secures Financing to Buy Hawthorne Suites Franchising,Inc. Franchise

Need a loan to purchase a Hawthorne Suites Franchising,Inc. franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bellmead, Texas needed money to invest in a Hawthorne Suites Franchising,Inc. franchise back in 2000. Washington Mutual Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

HAWTHORNE SUITES
BELLMEAD, TX 76054

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

5/4/2000

Loan Approval Gross Amount

$1,064,000

Loan Approval from the SBA

Of the total $1,064,000 loan amount, the SBA guaranteed $749,998.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hawthorne Suites Franchising,Inc. franchise. At the time of the loan, the company had 52 employees. This SBA loan request indicated that the loan would help generate 14 new jobs and retain 52 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Washington Mutual Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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