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November 22, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Econo Lodge Sequim Loan | ||||
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SBA Lenders for Sequim Entrepreneurs
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Nara Bank Provides SBA Loan to Buy Choice Hotels International Inc. FranchiseNeed a loan to buy a Choice Hotels International Inc. franchise? Nara Bank has a history of making these loans and they are guaranteed by the SBA. Choice Hotels International Inc. franchise loans are available to Sequim, Washington entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Nara Bank, based in Los Angeles, California, issued an SBA franchise loan for a Choice Hotels International Inc. franchise in 2005. We've got all the details on this Washington small business loan. SBA Loan Borrower ECONO LODGE SEQUIM SBA Loan Lender NARA BANK This lender provides SBA 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 721110 - Hotels and Motels Loan Approval Date 11/18/2005 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Choice Hotels International, Inc. Best Banks in Los Angeles, California
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