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December 22, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Martin, Business Loans > First State Bank Martin Business Loans > Laquinta Inn & Suites Loan | ||||
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How to Get SBA Loans in Decatur, Alabama
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First State Bank Provides SBA Loan to Buy La Quinta Inn FranchiseNeed money to buy a La Quinta Inn franchise? First State Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a La Quinta Inn franchise? If so, here's a 2005 SBA franchise loan that you should know about. First State Bank was the lender and the entrepreneur was based in Decatur, Alabama. SBA Loan Borrower LAQUINTA INN & SUITES SBA Loan Lender FIRST STATE BANK This bank 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 6/23/2005 Loan Approval Gross Amount $1,310,000 Loan Approval from the SBA Of the total $1,310,000 loan amount, the SBA guaranteed $815,082. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a La Quinta Inn franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels 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 funding source Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,310,000 loan. Remember, if it to be, it is up to me! 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: SBA 7A Banks for Martin, Tennessee Loans
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