Loan to Buy Vagabond Inn Franchise Issued By Heritage Bank Of Commerce

Borrowing money to buy a Vagabond Inn franchise? Heritage Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Vagabond Inn franchise requires some effort but others before you have been successful. In 2002, Heritage Bank Of Commerce issued an SBA franchise loan to an entrepreneur in Rancho Cordova (mills), California. Because Vagabond Inn was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

VAGABOND INN
RANCHO CORDOVA (MILLS), CA 95670

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113

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

7/26/2002

Loan Approval Gross Amount

$1,200,000

Loan Approval from the SBA

Of the total $1,200,000 loan amount, the SBA guaranteed $900,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Vagabond Inn franchise. At the time of the loan, the company had 16 employees. The loan application indicated that the loan would help retain 16 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find other ways to get money to start a business, 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:

Vagabond Inns

Obtaining Funding From a Venture Capitalist

SBA Approved Banks in San Jose, California

SBA California Banks