Newtek Small Business Finance Inc. Provides SBA Loan to Buy Hampton Inns Franchise

Borrowing money to purchase a Hampton Inns franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Hampton Inns franchise? If so, here's a 2000 SBA franchise loan that you should know about. Newtek Small Business Finance Inc. was the lender and the entrepreneur was based in Landover, Maryland.

SBA Loan Borrower

HAMPTON INN (M.PATEL&OTHERS)
LANDOVER, MD 20785

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

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

5/23/2000

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 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 Hampton Inns franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Newtek Small Business Finance Inc. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

The Friends and Family Network

Best Banks for Small Business in New York, New York

SBA Lenders in New York