Borrow Money to Buy a Comfort Suites Franchise

Need money to buy a Comfort Suites franchise? American Enterprise Bank has a history of making these loans and they are guaranteed by the SBA.

Comfort Suites franchise loans are available to Harvey, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, American Enterprise Bank, based in Buffalo Grove, Illinois, issued an SBA franchise loan for a Comfort Suites franchise in 2007. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

KAY TEE HOSPITALITY, INC.
HARVEY, IL 60426

SBA Loan Lender

AMERICAN ENTERPRISE BANK
600 N BUFFALO GROVE RD
BUFFALO GROVE, IL 60089

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

1/26/2007

Loan Approval Gross Amount

$1,998,700

Loan Approval from the SBA

Of the total $1,998,700 loan amount, the SBA guaranteed $1,499,025.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Comfort Suites franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like American Enterprise 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:

Comfort Suites

Angel Investors

SBA Participating Banks in Buffalo Grove, Illinois

Getting an SBA Loan in Illinois