Cullman, AL Entrepreneur Gets SBA Loan to Buy Best Western Inn Franchise

Need a loan to invest in a Best Western Inn franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Best Western Inn franchise? If so, here's a 2007 SBA franchise loan that you should know about. Commerce Bank was the lender and the entrepreneur was based in Cullman, Alabama.

SBA Loan Borrower

BEST WESTERN
Cullman, AL 35055

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

This lender provides SBA debt financing 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

4/30/2007

Loan Approval Gross Amount

$1,400,000

Loan Approval from the SBA

Of the total $1,400,000 loan amount, the SBA guaranteed $1,050,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Best Western Inn franchise. At the time of the loan, the company had no employees. This SBA loan request indicated that the loan would help create 5 new jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Cullman AL, you ought to talk with a local Cullman SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cullman businesses.

We can help you find the best banks for small businesses in Cullman or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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