Loan to Buy Wellesley Inn Franchise Issued By Temecula Valley Bank

Need money to buy a Wellesley Inn franchise? Temecula Valley Bank has a history of making these loans and they are guaranteed by the SBA.

Wellesley Inn franchise loans are available to West Palm Beach, Florida entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Temecula Valley Bank, based in Temecula, California, issued an SBA franchise loan for a Wellesley Inn franchise in 2001. We've got all the details on this Florida small business loan.

SBA Loan Borrower

WELLESLEY INN
WEST PALM BEACH, FL 33409

SBA Loan Lender

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

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

11/28/2001

Loan Approval Gross Amount

$1,099,200

Loan Approval from the SBA

Of the total $1,099,200 loan amount, the SBA guaranteed $824,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Wellesley Inn franchise. At the time of the loan, the company had 18 employees. The SBA loan documents indicated that the loan would help retain 18 existing jobs.

Next Steps for Getting an SBA Loan

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.

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:

Wellesley Inns & Suites Franchising, Inc.

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SBA 7A Banks in Temecula, California

California SBA 7A Lenders