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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Branch Bank & Trust Virginia Beach Business Loans > Clarion Hotel-Williamsburg Loan | ||||
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Raising Money in Williamsburg, Virginia With SBA Loans
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Williamsburg, VA Entrepreneur Gets SBA Loan to Buy Clarion Inn & Suites FranchiseBorrowing money to purchase a Clarion Inn & Suites franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Williamsburg, Virginia needed money to invest in a Clarion Inn & Suites franchise back in 2002. Branch Bank & Trust issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower CLARION HOTEL-WILLIAMSBURG SBA Loan Lender BRANCH BANK & TRUST 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 8/23/2002 Loan Approval Gross Amount $465,400 Loan Approval from the SBA Of the total $465,400 loan amount, the SBA guaranteed $349,050. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Clarion Inn & Suites franchise. At the time of the loan, the company had 120 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Branch Bank & Trust 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. Related Links: Clarion Inns, Hotels, Suites, Resorts Microlending as a Small Business Funding Source SBA 7A Lenders in Virginia Beach, Virginia
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