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November 23, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Heritage Bank Of Commerce San Jose Business Loans > Motel 6 Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Heritage Bank Of Commerce Provides SBA Loan to Buy Motel 6 FranchiseBorrowing money to invest in a Motel 6 franchise? Heritage Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Motel 6 franchise? If so, here's a 2003 SBA franchise loan that you should know about. Heritage Bank Of Commerce was the lender and the entrepreneur was based in Santa Cruz, California. SBA Loan Borrower MOTEL 6 SBA Loan Lender HERITAGE BANK OF COMMERCE This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 8/22/2003 Loan Approval Gross Amount $1,500,000 Loan Approval from the SBA Of the total $1,500,000 loan amount, the SBA guaranteed $999,990. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Motel 6 franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,500,000 loan. Remember, where there is a will, there is a way! 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: Obtaining Funding - How to Borrow Money SBA 7A Banks for San Jose, California Loans
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