Lancaster, OH Entrepreneur Gets SBA Loan to Buy Hampton Inns Franchise

Borrowing money to buy a Hampton Inns franchise? United Midwest Savings Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Lancaster, Ohio and are interested in buying a Hampton Inns franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by United Midwest Savings Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

HAMPTON INN
LANCASTER, OH 43160

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

8/13/2001

Loan Approval Gross Amount

$1,333,333

Loan Approval from the SBA

Of the total $1,333,333 loan amount, the SBA guaranteed $1,000,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hampton Inns franchise. At the time of the loan, the company had 16 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Lancaster OH, you ought to talk with a local Lancaster SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lancaster businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,333,333 loan. Remember, anyone can do it... so why not 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:

Hampton Inn/Hampton Inn & Suites

Debt Financing

SBA Banks in De Graff, Ohio

SBA Lenders in Ohio