Loan to Buy Americinn Franchise Issued By Independence Bank

Need money to invest in an Americinn franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Havre, Montana needed money to invest in an Americinn franchise back in 2006. Independence Bank issued an SBA franchise loan. Here are the details on this Montana small business loan.

SBA Loan Borrower

C.P. PROPERTIES, LLC
HAVRE, MT 59501

SBA Loan Lender

INDEPENDENCE BANK
435 THIRD ST
HAVRE, MT 59501

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

4/18/2006

Loan Approval Gross Amount

$385,000

Loan Approval from the SBA

Of the total $385,000 loan amount, the SBA guaranteed $288,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Americinn franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the 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!

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

AmericInn

Obtaining Funding - How to Borrow Money

Small Business Banks in Havre, Montana

Montana SBA Banks