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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 > Super 8 Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Citizens Bank Provides SBA Loan to Buy Super 8 Motel FranchiseNeed a loan to purchase a Super 8 Motel franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA. Super 8 Motel franchise loans are available to Clinton, Tennessee entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Citizens Bank, based in Elizabethton, Tennessee, issued an SBA franchise loan for a Super 8 Motel franchise in 2003. We've got all the details on this Tennessee small business loan. SBA Loan Borrower SUPER 8 SBA Loan Lender CITIZENS BANK This SBA loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications. 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 1/10/2003 Loan Approval Gross Amount $1,140,000 Loan Approval from the SBA Of the total $1,140,000 loan amount, the SBA guaranteed $855,000. 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 9 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to 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. This company got an SBA loan. You can too! Maybe you want money for start up 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: Small Bank Loans in Elizabethton, Tennessee
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