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May 2, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Parsons, Business Loans > Community So. Bank D.B.A Commun Parsons Business Loans > Best Western Chester Inn&suite Loan | ||||
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Community So. Bank D.B.A Commun Small Business Franchise Loan
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Borrow Money to Buy a Super 8 Motel FranchiseNeed money to purchase a Super 8 Motel franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA. Super 8 Motel franchise loans are available to Richmond, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Community So. Bank D.B.A Commun, based in Parsons, Tennessee, issued an SBA franchise loan for a Super 8 Motel franchise in 2005. We've got all the details on this Virginia small business loan. SBA Loan Borrower BEST WESTERN CHESTER INN&SUITE SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 8/15/2005 Loan Approval Gross Amount $1,850,000 Loan Approval from the SBA Of the total $1,850,000 loan amount, the SBA guaranteed $1,387,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Super 8 Motel franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,850,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Parsons, Tennessee
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