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April 28, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Elizabethton, Business Loans > Citizens Bank Elizabethton Business Loans > Quality Inn Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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St. George, SC Entrepreneur Gets SBA Loan to Buy Quality Inn FranchiseBorrowing money to invest in a Quality Inn franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Quality Inn franchise? If so, here's a 2003 SBA franchise loan that you should know about. Citizens Bank was the lender and the entrepreneur was based in St. George, South Carolina. SBA Loan Borrower QUALITY INN SBA Loan Lender CITIZENS BANK This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a thorough understanding of SBA lending rules and regulations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 1/9/2003 Loan Approval Gross Amount $1,175,000 Loan Approval from the SBA Of the total $1,175,000 loan amount, the SBA guaranteed $881,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Quality Inn franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Approved Banks in Elizabethton, Tennessee
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