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May 1, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Elizabethton, Business Loans > Citizens Bank Elizabethton Business Loans > Hotels And Motels Loan | ||||
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I Need an SBA Loan in Memphis, Tennessee
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Hotels and Motels Small Business LoansLooking for small business loans for hotels and motels? An SBA loan may be just what you've been looking for. This $1,281,500 hotels and motels loan was issued by a Tennessee bank. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Citizens Bank, out of Elizabethton, Tennessee. The loan was granted and they received $1,281,500 to help grow their Memphis, Tennessee business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender CITIZENS BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses. 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 4/20/2004 Loan Approval Gross Amount $1,281,500 Loan Approval from the SBA Of the total $1,281,500 loan amount, the SBA guaranteed $961,125. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: Who Lends Money to Small Businesses in Elizabethton, Tennessee
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