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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Speedway Sleep Inn & Suites Loan | ||||
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How to Get SBA Loans in Northlake, Texas
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Texas Entrepreneur Secures Financing to Buy Choice Hotels International Inc. FranchiseBorrowing money to buy a Choice Hotels International Inc. franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Choice Hotels International Inc. franchise shouldn't be too tough. In 2000, Washington Mutual Bank issued an SBA franchise loan to an entrepreneur in Northlake, Texas. Because Choice Hotels International Inc. was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower SPEEDWAY SLEEP INN & SUITES SBA Loan Lender WASHINGTON MUTUAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 10/19/2000 Loan Approval Gross Amount $1,092,000 Loan Approval from the SBA Of the total $1,092,000 loan amount, the SBA guaranteed $819,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had 15 employees. This SBA loan request indicated that the loan would help generate 15 new jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 $1,092,000 loan. Remember, if it to be, it is up to me! 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. Accountant's Role in Securing Financing SBA Participating Banks in Henderson, Nevada
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