Carlisle, PA Entrepreneur Gets SBA Loan to Buy Rodeway Inns Franchise

Borrowing money to purchase a Rodeway Inns franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Carlisle, Pennsylvania and are interested in buying a Rodeway Inns franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Commerce Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SHREE SAI SIDDHI LLC
CARLISLE, PA 17013

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/15/2005

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Rodeway Inns franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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