Lathrop, CA Entrepreneur Gets SBA Loan to Buy Best Western Inn Franchise

Need money to invest in a Best Western Inn franchise? Heritage Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA.

Best Western Inn franchise loans are available to Lathrop, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Heritage Bank Of Commerce, based in San Jose, California, issued an SBA franchise loan for a Best Western Inn franchise in 2006. We've got all the details on this California small business loan.

SBA Loan Borrower

BEST WESTERN PLAZA INN & SUITE
LATHROP, CA 95330

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113

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

11/20/2006

Loan Approval Gross Amount

$540,000

Loan Approval from the SBA

Of the total $540,000 loan amount, the SBA guaranteed $405,000.

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 only one employee. The loan application indicated that the loan would help generate 34 new jobs and retain 34 existing jobs.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Heritage Bank Of Commerce and they will explain how you can get an SBA loan for your company.

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

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SBA 7A Banks in San Jose, California

SBA Lenders in California