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April 26, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Elizabethton, Business Loans > Citizens Bank Elizabethton Business Loans > Wingate Inn Loan | ||||
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Citizens Bank Small Business Franchise Loan
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Borrow Money to Buy a Wingate Inns FranchiseNeed money to invest in a Wingate Inns franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Louisville, Kentucky needed money to invest in a Wingate Inns franchise back in 2004. Citizens Bank issued an SBA franchise loan. Here are the details on this Kentucky small business loan. SBA Loan Borrower WINGATE INN SBA Loan Lender CITIZENS BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 9/27/2004 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Wingate Inns franchise. At the time of the loan, the company had 14 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $2,000,000. How would you spend $2,000,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Microlending as a Small Business Funding Source SBA 7A Banks for Elizabethton, Tennessee Loans
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