Houston, TX Entrepreneur Gets SBA Loan to Buy Hawthorne Suites Franchising,Inc. Franchise

Need a loan to buy a Hawthorne Suites Franchising,Inc. franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Hawthorne Suites Franchising,Inc. franchise is doable. In 2000, Washington Mutual Bank issued an SBA franchise loan to an entrepreneur in Houston, Texas. Because Hawthorne Suites Franchising,Inc. was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

HAWTHORN SUITES AT BUSH INTERC
HOUSTON, TX 77032

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

9/6/2000

Loan Approval Gross Amount

$1,103,000

Loan Approval from the SBA

Of the total $1,103,000 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 Hawthorne Suites Franchising,Inc. franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the borrowed money would help create 5 new jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Hawthorn Suites

Raising VC Money for Social Networking Companies

Small Bank Loans in Henderson, Nevada

SBA Lenders in Nevada