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December 22, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > South Sioux City, Business Loans > Dakota County State Bank South Sioux City Business Loans > Econolodge Loan | ||||
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Requirements for Borrowing Money to Buy a Franchise
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North Sioux City, SD Entrepreneur Gets SBA Loan to Buy Choice Hotels International Inc. FranchiseNeed money to purchase a Choice Hotels International Inc. franchise? Dakota County State Bank has a history of making these loans and they are guaranteed by the SBA. If you live near North Sioux City, South Dakota and are interested in buying a Choice Hotels International Inc. franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Dakota County State Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower ECONOLODGE SBA Loan Lender DAKOTA COUNTY STATE BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels Loan Approval Date 6/23/2000 Loan Approval Gross Amount $570,000 Loan Approval from the SBA Of the total $570,000 loan amount, the SBA guaranteed $427,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $570,000 loan. Remember, you control your own destiny. 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: Choice Hotels International, Inc. Obtaining Funding - How to Borrow Money SBA Approved Banks in South Sioux City, Nebraska Find an SBA Lender in Nebraska
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