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November 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Quality Inn Loan | ||||
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Savage, Minnesota Bank Loan
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Borrow Money to Buy a Comfort Suites FranchiseNeed a loan to buy a Comfort Suites franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Comfort Suites franchise shouldn't be overly burdensome. In 2003, Newtek Small Business Finance Inc. issued an SBA franchise loan to an entrepreneur in Savage, Minnesota. Because Comfort Suites was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis. SBA Loan Borrower QUALITY INN SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/19/2003 Loan Approval Gross Amount $1,333,000 Loan Approval from the SBA Of the total $1,333,000 loan amount, the SBA guaranteed $999,750. 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 2 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. We've showcased information on this loan to let you know that businesses like yours 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: SBA Participating Banks in New York, New York Find an SBA Lender in New York
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