California Entrepreneur Secures Financing to Buy Red Lion Inn & Suites Franchise

Need a loan to buy a Red Lion Inn & Suites franchise? Citizens Business Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Red Lion Inn & Suites franchise? If so, here's a 2000 SBA franchise loan that you should know about. Citizens Business Bank was the lender and the entrepreneur was based in Marina Del Rey, California.

SBA Loan Borrower

RED LION INN & SUITES
MARINA DEL REY, CA 90292

SBA Loan Lender

CITIZENS BUSINESS BANK
4100 W ALAMEDA AVE
BURBANK, CA 91505

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

4/10/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 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 Red Lion Inn & Suites franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizens Business Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Red Lion Hotels

Obtaining Funding From a Venture Capitalist

SBA Banks in Burbank, California

SBA Participating Banks in California