Stockton, CA Entrepreneur Gets SBA Loan to Buy Howard Johnson Franchise

Need money to invest in a Howard Johnson franchise? Hanmi Bank has a history of making these loans and they are guaranteed by the SBA.

Howard Johnson franchise loans are available to Stockton, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Hanmi Bank, based in Los Angeles, California, issued an SBA franchise loan for a Howard Johnson franchise in 2003. We've got all the details on this California small business loan.

SBA Loan Borrower

HOWARD JOHNSON EXPRESS INN
STOCKTON, CA 92502

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, STE 103
LOS ANGELES, CA 90010

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

1/8/2003

Loan Approval Gross Amount

$1,200,000

Loan Approval from the SBA

Of the total $1,200,000 loan amount, the SBA guaranteed $900,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Howard Johnson franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hanmi Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hanmi 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.

Related Links:

Howard Johnson International, Inc.

Howard Johnson Franchise Canada Inc.

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SBA 7A Banks in Los Angeles, California

Where to Get an SBA Loan California