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November 21, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Best Western Colonial Loan | ||||
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Where Can I Find Franchise Loans in Des Moines, Iowa?
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Business Loan Center, LLC Provides SBA Loan to Buy Best Western Inn FranchiseNeed a loan to buy a Best Western Inn franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Des Moines, Iowa needed money to invest in a Best Western Inn franchise back in 2002. Business Loan Center, LLC issued an SBA franchise loan. Here are the details on this Iowa small business loan. SBA Loan Borrower BEST WESTERN COLONIAL SBA Loan Lender BUSINESS LOAN CENTER, LLC As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 3/14/2002 Loan Approval Gross Amount $1,250,000 Loan Approval from the SBA Of the total $1,250,000 loan amount, the SBA guaranteed $937,500. 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 only one employee. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 10 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This SBA loan was for $1,250,000. How would you spend $1,250,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Banks in Richmond, Virginia
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