Borrow Money to Buy a Best Western Inn Franchise

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

Want to borrow money to buy a Best Western Inn franchise? If so, here's a 2005 SBA franchise loan that you should know about. American Enterprise Bank was the lender and the entrepreneur was based in Shelbyville, Indiana.

SBA Loan Borrower

BEST WESTERN
SHELBYVILLE, IN 46176

SBA Loan Lender

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

This small business 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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

1/27/2005

Loan Approval Gross Amount

$1,283,500

Loan Approval from the SBA

Of the total $1,283,500 loan amount, the SBA guaranteed $962,625.

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 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American Enterprise Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Best Western Inn

Direct Public Offerings

SBA Participating Banks in Buffalo Grove, Illinois

SBA Illinois Lenders