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November 21, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Canton, Business Loans > The Huntington National Bank Canton Business Loans > Econolodge Loan | ||||
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Columbus, Ohio Bank Loan
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Borrow Money to Buy a Choice Hotels International Inc. FranchiseBorrowing money to buy a Choice Hotels International Inc. franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA. Choice Hotels International Inc. franchise loans are available to Columbus, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Huntington National Bank, based in Canton, Ohio, issued an SBA franchise loan for a Choice Hotels International Inc. franchise in 2002. We've got all the details on this Ohio small business loan. SBA Loan Borrower ECONOLODGE SBA Loan Lender THE HUNTINGTON NATIONAL BANK 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 12/27/2002 Loan Approval Gross Amount $1,035,000 Loan Approval from the SBA Of the total $1,035,000 loan amount, the SBA guaranteed $776,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Huntington National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Choice Hotels International, Inc. Good Banks for Small Business in Canton, Ohio
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