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November 15, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Travelodge & Leawood Motor Inn Loan | ||||
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SBA 7A Banks for Hobbs, New Mexico Business Owners
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New Mexico Entrepreneur Secures Financing to Buy Choice Hotels International Inc. FranchiseBorrowing money to invest in a Choice Hotels International Inc. franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. If you live near Hobbs, New Mexico and are interested in buying a Choice Hotels International Inc. franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Cit Small Business Lending Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower TRAVELODGE & LEAWOOD MOTOR INN SBA Loan Lender CIT SMALL BUSINESS LENDING CORP When it made this small business loan, the lender was part of the SBA's Certified Lenders Program (CLP). This program aims to offer rapid 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. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/21/2002 Loan Approval Gross Amount $682,000 Loan Approval from the SBA Of the total $682,000 loan amount, the SBA guaranteed $511,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? 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: Choice Hotels International, Inc. SBA Approved Banks in Livingston, New Jersey
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