The Huntington National Bank Provides SBA Loan to Buy Hampton Inns Franchise

Borrowing money to buy a Hampton Inns franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

Hampton Inns franchise loans are available to Grove City, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Huntington National Bank, based in Canton, Ohio, issued an SBA franchise loan for a Hampton Inns franchise in 2002. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

SGB MANAGEMENT INC
GROVE CITY, OH 43123

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
220 MARKET AVE SOUTH, UNITED
CANTON, OH 44702

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

12/20/2002

Loan Approval Gross Amount

$1,034,000

Loan Approval from the SBA

Of the total $1,034,000 loan amount, the SBA guaranteed $775,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hampton Inns franchise. At the time of the loan, the company had 13 employees. This SBA loan request indicated that the loan would help retain 13 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Huntington National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Hampton Inn/Hampton Inn & Suites

Business Credit Evaluation

SBA Banks in Canton, Ohio

Ohio SBA 7A Lenders