Texas Entrepreneur Secures Financing to Buy Holiday Inn Express Franchise

Borrowing money to purchase a Holiday Inn Express franchise? Prosperity Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Holiday Inn Express franchise shouldn't be overly burdensome. In 2001, Prosperity Bank issued an SBA franchise loan to an entrepreneur in Gainesville, Texas. Because Holiday Inn Express was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

GAINESVILLE HOLIDAY INN EXPRES
GAINESVILLE, TX 76240

SBA Loan Lender

PROSPERITY BANK
100 E CALIFORNIA ST
GAINESVILLE, TX 76240

This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

12/14/2001

Loan Approval Gross Amount

$1,333,333

Loan Approval from the SBA

Of the total $1,333,333 loan amount, the SBA guaranteed $1,000,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Holiday Inn Express franchise. At the time of the loan, the company had 14 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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SBA Participating Banks in Gainesville, Texas

Getting an SBA Loan in Texas