Business Loan Center, LLC Provides SBA Loan to Buy Holiday Inn Express Franchise

Borrowing money to buy a Holiday Inn Express franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Holiday Inn Express franchise may simply require a phone call to a local SBA banker. In 2001, Business Loan Center, LLC issued an SBA franchise loan to an entrepreneur in Rowland, North Carolina. Because Holiday Inn Express was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

HOLIDAY INN EXPRESS
ROWLAND, NC 28383

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

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

2/7/2001

Loan Approval Gross Amount

$1,716,000

Loan Approval from the SBA

Of the total $1,716,000 loan amount, the SBA guaranteed $999,999.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Holiday Inn Express franchise. At the time of the loan, the company had 11 employees. The SBA loan documents indicated that the loan would help retain 11 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Business Loan Center, LLC that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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