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November 21, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Mason City, Business Loans > Northwoods State Bank Mason City Business Loans > Best Value Inn Loan | ||||
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I Need an SBA Loan to Buy a Franchise in Mason City, Iowa
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Iowa Entrepreneur Secures Financing to Buy Best Value Inn FranchiseNeed money to invest in a Best Value Inn franchise? Northwoods State Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Mason City, Iowa needed money to invest in a Best Value Inn franchise back in 2004. Northwoods State Bank issued an SBA franchise loan. Here are the details on this Iowa small business loan. SBA Loan Borrower BEST VALUE INN SBA Loan Lender NORTHWOODS STATE BANK 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. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/2/2004 Loan Approval Gross Amount $510,000 Loan Approval from the SBA Of the total $510,000 loan amount, the SBA guaranteed $382,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Best Value Inn franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Northwoods State Bank 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: Who Lends Money to Small Businesses in Mason City, Iowa
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