Prescott, AZ Entrepreneur Gets SBA Loan to Buy Choice Hotels International Inc. Franchise

Need money to invest in a Choice Hotels International Inc. franchise? Comerica 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 requires some effort but others before you have been successful. In 2004, Comerica Bank issued an SBA franchise loan to an entrepreneur in Prescott, Arizona. Because Choice Hotels International Inc. was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis.

SBA Loan Borrower

COMFORT INN PRESCOTT
PRESCOTT, AZ 86303

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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

5/27/2004

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 16 employees. This SBA loan request indicated that the loan would help retain 16 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Comerica Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

Choice Hotels

504 Loans

Where to Get an SBA Loan in Dallas, Texas

SBA Texas Banks