Texas Entrepreneur Secures Financing to Buy Holiday Inn Express Franchise

Borrowing money to purchase a Holiday Inn Express franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Holiday Inn Express franchise? If so, here's a 2007 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Killeen, Texas.

SBA Loan Borrower

HOLIDAY INN
KILLEEN, TX 76541

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

9/18/2007

Loan Approval Gross Amount

$384,000

Loan Approval from the SBA

Of the total $384,000 loan amount, the SBA guaranteed $288,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Holiday Inn Express franchise. At the time of the loan, the company had 20 employees. The loan application indicated that the loan would help generate 20 new jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Holiday Inn Worldwide

Alternative Financing

Find an SBA Lender in Livingston, New Jersey

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