Loan to Buy Best Western Inn Franchise Issued By American Enterprise Bank

Need money to purchase a Best Western Inn franchise? American Enterprise Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Schererville, Indiana and are interested in buying a Best Western Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by American Enterprise Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BEST WESTERN CROSSROADS INN
SCHERERVILLE, IN 46375

SBA Loan Lender

AMERICAN ENTERPRISE BANK
600 N BUFFALO GROVE RD
BUFFALO GROVE, IL 60089

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

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

10/21/2003

Loan Approval Gross Amount

$1,330,000

Loan Approval from the SBA

Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Best Western Inn franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. American Enterprise Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American Enterprise Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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