Georgia Entrepreneur Secures Financing to Buy Hawthorne Suites Franchising,Inc. Franchise

Borrowing money to invest in a Hawthorne Suites Franchising,Inc. franchise? Peoples State Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Savannah, Georgia needed money to invest in a Hawthorne Suites Franchising,Inc. franchise back in 2002. Peoples State Bank & Trust issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

HAWTHORN SUITES
SAVANNAH, GA 31408

SBA Loan Lender

PEOPLES STATE BANK & TRUST
72 E PARKER ST
BAXLEY, GA 31513

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/8/2002

Loan Approval Gross Amount

$553,000

Loan Approval from the SBA

Of the total $553,000 loan amount, the SBA guaranteed $210,140.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hawthorne Suites Franchising,Inc. franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

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

If you are wondering how to raise money for a business in Savannah GA, you ought to talk with a local Savannah SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Savannah businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Peoples State Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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