St. Augustine, FL Entrepreneur Gets SBA Loan to Buy Country Lodging By Carlson Franchise

Need a loan to purchase a Country Lodging By Carlson franchise? Temecula Valley Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in St. Augustine, Florida needed money to invest in a Country Lodging By Carlson franchise back in 2002. Temecula Valley Bank issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

COUNTRY INN & SUITES OF ST. AU
ST. AUGUSTINE, FL 32095

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$1,450,000

Loan Approval from the SBA

Of the total $1,450,000 loan amount, the SBA guaranteed $999,995.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Country Lodging By Carlson franchise. At the time of the loan, the company had 20 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.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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