Loan to Buy Best Western Inn Franchise Issued By Cit Small Business Lending Corp

Borrowing money to buy a Best Western Inn franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Hazlebrook (rr Name Hazle Broo, Pennsylvania needed money to invest in a Best Western Inn franchise back in 2006. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

BEST WESTERN GENETTI LODGE
HAZLEBROOK (RR NAME HAZLE BROO, PA 18201

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

4/5/2006

Loan Approval Gross Amount

$1,901,000

Loan Approval from the SBA

Of the total $1,901,000 loan amount, the SBA guaranteed $1,425,750.

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 25 employees. The SBA loan application for the borrower indicated that the loan would help retain 25 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? 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:

Best Western Inn

Getting a Small Business Loan

Best Livingston, New Jersey Banks for Small Business

New Jersey SBA Bank Lenders