Loan to Buy Comfort Inn Franchise Issued By Hanmi Bank

Need money to purchase a Comfort Inn franchise? Hanmi Bank has a history of making these loans and they are guaranteed by the SBA.

Comfort Inn franchise loans are available to Moreno Valley, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Hanmi Bank, based in Los Angeles, California, issued an SBA franchise loan for a Comfort Inn franchise in 2003. We've got all the details on this California small business loan.

SBA Loan Borrower

COMFORT INN IN MORENO VALLEY
MORENO VALLEY, CA 92553

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, PH-A
LOS ANGELES, CA 90010

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/19/2003

Loan Approval Gross Amount

$1,330,000

Loan Approval from the SBA

Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Comfort Inn franchise. At the time of the loan, the company had 13 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,330,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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