Loan to Buy Best Western Inn Franchise Issued By First State Bank Of Hotchkiss

Need money to buy a Best Western Inn franchise? First State Bank Of Hotchkiss has a history of making these loans and they are guaranteed by the SBA.

If you live near Gunnison, Colorado and are interested in buying a Best Western Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by First State Bank Of Hotchkiss. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BEST WESTERN TOMICHI VILLAGE I
GUNNISON, CO 81230

SBA Loan Lender

FIRST STATE BANK OF HOTCHKISS
102 E BRIDGE ST
HOTCHKISS, CO 81419

This lender issued this SBA business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/30/2004

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Best Western Inn franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Best Western Inn

Alternative Financing

SBA 7A Banks in Hotchkiss, Colorado

Getting a Business Loan in Colorado