Ncb, Fsb Provides SBA Loan to Buy Howard Johnson Franchise

Need money to buy a Howard Johnson franchise? Ncb, Fsb has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Howard Johnson franchise shouldn't be too tough. In 2002, Ncb, Fsb issued an SBA franchise loan to an entrepreneur in Newport News, Virginia. Because Howard Johnson was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

HOWARD JOHNSON EXPRESS INN
12880 JEFFERSON AVENUE
NEWPORT NEWS, VA 23608

SBA Loan Lender

NCB, FSB
139 S HIGH ST
HILLSBORO, OH 45133

This lender issued this SBA bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels (except Casino Hotels) and Motels

Loan Approval Date

10/2/2002

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, Howard Johnson Express Inn, 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 14 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 11/2/2006.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Ncb, Fsb that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Howard Johnson International, Inc.

Howard Johnson Franchise Canada Inc.

Bank Credit Lines

Best Hillsboro, Ohio Banks for Small Business

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