South Carolina Entrepreneur Secures Financing to Buy Best Value Inn Franchise

Borrowing money to buy a Best Value Inn franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Walterboro, South Carolina needed money to invest in a Best Value Inn franchise back in 2005. Comerica Bank issued an SBA franchise loan. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

BEST VALUE INN
WALTERBORO, SC 29488

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/11/2005

Loan Approval Gross Amount

$985,000

Loan Approval from the SBA

Of the total $985,000 loan amount, the SBA guaranteed $738,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Best Value Inn franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Comerica Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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