Houston, TX Entrepreneur Gets SBA Loan to Buy Best Western Inn Franchise

Need a loan to buy a Best Western Inn franchise? Woodforest National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Houston, Texas and are interested in buying a Best Western Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Woodforest National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BEST WESTERN GREENSPOINT INN &
HOUSTON, TX 77090

SBA Loan Lender

WOODFOREST NATIONAL BANK
7 SWITCHBUD PL, STE 198 C
THE WOODLANDS, TX 77380

At the time this loan was granted, the lender participated in 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

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/23/2003

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

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 7 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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