South Carolina Entrepreneur Secures Financing to Buy Howard Johnson Franchise

Borrowing money to invest in a Howard Johnson franchise? Excel National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Howard Johnson franchise may simply require a phone call to a local SBA banker. In 2007, Excel National Bank issued an SBA franchise loan to an entrepreneur in Santee, South Carolina. Because Howard Johnson was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

HOWARD JOHNSON EXPRESS INN
SANTEE, SC 29142

SBA Loan Lender

EXCEL NATIONAL BANK
9701 WILSHIRE BLVD
BEVERLY HILLS, CA 90212

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/19/2007

Loan Approval Gross Amount

$1,862,900

Loan Approval from the SBA

Of the total $1,862,900 loan amount, the SBA guaranteed $1,397,175.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Howard Johnson franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Santee or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Howard Johnson International, Inc.

Howard Johnson Franchise Canada Inc.

Business Incubators

SBA Approved Banks in Beverly Hills, California

California SBA Banks