Idabel, OK Entrepreneur Gets SBA Loan to Buy Microtel Franchise

Need money to purchase a Microtel franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA.

If you live near Idabel, Oklahoma and are interested in buying a Microtel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Business Loan Center, LLC. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MICROTEL INN
IDABEL, OK 74745

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

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

5/3/2007

Loan Approval Gross Amount

$970,000

Loan Approval from the SBA

Of the total $970,000 loan amount, the SBA guaranteed $727,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Microtel franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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

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:

Microtel Inns & Suites

Financing Your Business

Who Lends Money to Small Businesses in New York, New York

Find an SBA Lender in New York