Texas Entrepreneur Secures Financing to Buy Scottish Inns Franchise

Borrowing money to purchase a Scottish Inns franchise? Amer Business Lending Inc. has a history of making these loans and they are guaranteed by the SBA.

If you live near Dickinson, Texas and are interested in buying a Scottish Inns franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Amer Business Lending Inc.. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

DAYS INNS & SUITES
DICKINSON, TX 77539

SBA Loan Lender

AMER BUSINESS LENDING INC.
1420 W. MOCKINGBIRD LANE, SUI
DALLAS, TX 75247

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

1/8/2003

Loan Approval Gross Amount

$1,399,500

Loan Approval from the SBA

Of the total $1,399,500 loan amount, the SBA guaranteed $999,998.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Scottish Inns franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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