Loan to Buy Comfort Inn Franchise Issued By United Midwest Savings Bank

Borrowing money to purchase a Comfort Inn franchise? United Midwest Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Comfort Inn franchise shouldn't be overly burdensome. In 2002, United Midwest Savings Bank issued an SBA franchise loan to an entrepreneur in Circleville, Ohio. Because Comfort Inn was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

COMFORT INN
CIRCLEVILLE, OH 43113

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

This small 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

11/13/2002

Loan Approval Gross Amount

$448,400

Loan Approval from the SBA

Of the total $448,400 loan amount, the SBA guaranteed $336,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Comfort Inn franchise. At the time of the loan, the company had 14 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

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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