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April 28, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Raleigh, Business Loans > Capital Bank Raleigh Business Loans > Quality Inn Loan | ||||
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How Can I Buy a Franchise in Kill Devil Hills, North Carolina?
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Borrow Money to Buy a Quality Inn FranchiseBorrowing money to purchase a Quality Inn franchise? Capital Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Kill Devil Hills, North Carolina and are interested in buying a Quality Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Capital Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower QUALITY INN SBA Loan Lender CAPITAL BANK This SBA 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. NAICS Code 721110 - Hotels and Motels Loan Approval Date 10/27/2003 Loan Approval Gross Amount $1,500,000 Loan Approval from the SBA Of the total $1,500,000 loan amount, the SBA guaranteed $999,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Quality Inn franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Banks in Raleigh, North Carolina
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