Borrow Money to Buy a Mainstay Suites Franchise

Borrowing money to invest in a Mainstay Suites franchise? Merrill Lynch Bank Usa has a history of making these loans and they are guaranteed by the SBA.

If you live near Hayward, California and are interested in buying a Mainstay Suites franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Merrill Lynch Bank Usa. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MAINSTAY SUITES
HAYWARD, CA 94545

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

At the time this loan was granted, this bank was part of the SBA's Certified Lenders Program (CLP). This program was created to offer fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

7/19/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mainstay Suites franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

MainStay Suites

Small Business Credit Cards

Small Business Banks in Salt Lake City, Utah

SBA Lenders in Utah