Loan to Buy Howard Johnson Franchise Issued By Wilshire State Bank

Need a loan to buy a Howard Johnson franchise? Wilshire State Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Howard Johnson franchise is doable. In 2006, Wilshire State Bank issued an SBA franchise loan to an entrepreneur in Grand Prairie, Texas. Because Howard Johnson was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

HOWARD JOHNSON EXPRESS
GRAND PRAIRIE, TX 75050

SBA Loan Lender

WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010

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

7/7/2006

Loan Approval Gross Amount

$1,540,000

Loan Approval from the SBA

Of the total $1,540,000 loan amount, the SBA guaranteed $1,155,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Howard Johnson 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 retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wilshire State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Howard Johnson International, Inc.

Howard Johnson Franchise Canada Inc.

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Best Los Angeles, California Banks for Small Business

SBA Participating Banks in California