Goldsboro, NC Entrepreneur Gets SBA Loan to Buy Best Inn Franchise

Borrowing money to buy a Best Inn franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Best Inn franchise is doable. In 2002, Business Loan Center, LLC issued an SBA franchise loan to an entrepreneur in Goldsboro, North Carolina. Because Best Inn was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

BEST INN
GOLDSBORO, NC 27532

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

This SBA loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

2/27/2002

Loan Approval Gross Amount

$1,333,000

Loan Approval from the SBA

Of the total $1,333,000 loan amount, the SBA guaranteed $999,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Best Inn franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Business Loan Center, LLC had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Business Loan Center, LLC made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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