Loan to Buy Comfort Suites Franchise Issued By Center Bank

Need a loan to purchase a Comfort Suites franchise? Center Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Comfort Suites franchise requires some effort but others before you have been successful. In 2003, Center Bank issued an SBA franchise loan to an entrepreneur in San Bernardino, California. Because Comfort Suites was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

COMFORT INN SAN BERNARDINO
SAN BERNARDINO, CA 92408

SBA Loan Lender

CENTER BANK
253 N WESTERN AVE
LOS ANGELES, CA 90004

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a deep knowledge SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/8/2003

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Comfort Suites franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

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:

Comfort Suites

A Company That Helps Entrepreneurs

Where to Get an SBA Loan in Los Angeles, California

Getting an SBA Loan in California