U.S. Bank National Association Provides SBA Loan to Buy Best Inn Franchise

Need a loan to buy a Best Inn franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Best Inn franchise shouldn't be overly burdensome. In 2000, U.S. Bank National Association issued an SBA franchise loan to an entrepreneur in Lincoln City (oceanlake), Oregon. Because Best Inn was registered with the SBA's registry of franchises, this Oregon small business loan was issued on an expedited basis.

SBA Loan Borrower

HUN & SO CORPORATION
LINCOLN CITY (OCEANLAKE), OR 97367

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

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.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

9/18/2000

Loan Approval Gross Amount

$187,000

Loan Approval from the SBA

Of the total $187,000 loan amount, the SBA guaranteed $118,804.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Best Inn franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like U.S. Bank National Association 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.

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