Michigan Entrepreneur Secures Financing to Buy Amerihost Inn Franchise

Need money to buy an Amerihost Inn franchise? West Michigan Community Bank has a history of making these loans and they are guaranteed by the SBA.

Amerihost Inn franchise loans are available to Hudsonville, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, West Michigan Community Bank, based in Hudsonville, Michigan, issued an SBA franchise loan for an Amerihost Inn franchise in 2004. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

SAULTPORTAGE PROPERTIES, LLC
HUDSONVILLE, MI 49426

SBA Loan Lender

WEST MICHIGAN COMMUNITY BANK
3467 KELLY ST
HUDSONVILLE, MI 49426

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/16/2004

Loan Approval Gross Amount

$1,425,000

Loan Approval from the SBA

Of the total $1,425,000 loan amount, the SBA guaranteed $1,068,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Amerihost Inn franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. West Michigan Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, West Michigan Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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SBA 7A Lenders in Hudsonville, Michigan

Where to Get an SBA Loan Michigan