Magnuson Hotels approved by US Small Business Administration (SBA) franchise registry
September 24, 2014
Magnuson Hotels today announced its certification to the US Franchise Registry, the national listing of brands approved by the US Small Business Administration (SBA).
Hotel projects that utilize SBA approved brands receive a streamlined process and faster financing approvals, cutting months off the typical loan process.
As many local and regional lenders are nervous to make loans in an unstable economy and often unfamiliar with national hotel brand franchising contracts, the SBA franchise certification helps secure loan guarantees with the SBA.
Under this plan, SBA guarantees 75% – 85% of the loan, which lowers risk to banks, increasing willingness to provide hotel loans based upon registered brands.
Founded in 2003, Magnuson Hotels has become the fastest growing hotel chain in history, representing nearly 2,000 hotels worldwide with assets in excess of $6.0 Billion. One of the top ten global hotel chains, Magnuson Hotels has been designated the #1 Hotel Company of Inc. Magazine’s 5,000 fastest growing private U.S. companies. Total 2014 YTD Magnuson Hotels brand growth has risen 40% over same period 2013.