Las Cruces, NM Entrepreneur Gets SBA Loan to Buy Best Western Inn Franchise

Need a loan to purchase a Best Western Inn franchise? The First National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Las Cruces, New Mexico and are interested in buying a Best Western Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by The First National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BEST WESTERN MISSION INN
LAS CRUCES, NM 88005

SBA Loan Lender

THE FIRST NATIONAL BANK
303 W MAIN ST
ARTESIA, NM 88211

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/29/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Best Western Inn franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 15 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Best Western Inn

The Friends and Family Network

SBA 7A Lenders in Artesia, New Mexico

Where to Get an SBA Loan New Mexico