Loan to Buy Best Western Inn Franchise Issued By Citizens Bank

Need a loan to invest in a Best Western Inn franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Best Western Inn franchise shouldn't be too tough. In 2007, Citizens Bank issued an SBA franchise loan to an entrepreneur in Petoskey, Michigan. Because Best Western Inn was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

B W INN OF PELOSKEY LLC
PETOSKEY, MI 49770

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/24/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Best Western Inn franchise. At the time of the loan, the company had 13 employees. The SBA loan documents indicated that the loan would help retain 13 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Petoskey MI, you ought to talk with a local Petoskey SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Petoskey businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Best Western Inn

Business Credit Evaluation

SBA Banks in Lansing, Michigan

Getting an SBA Loan in Michigan