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May 1, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Knoxville, Business Loans > Community So. Bank D.B.A Commun Knoxville Business Loans > Super 8 Florence Loan | ||||
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Requirements for Financing a Franchise
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Florence, SC Entrepreneur Gets SBA Loan to Buy Super 8 Motel FranchiseNeed a loan 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. Want to borrow money to buy a Super 8 Motel franchise? If so, here's a 2004 SBA franchise loan that you should know about. Community So. Bank D.B.A Commun was the lender and the entrepreneur was based in Florence, South Carolina. SBA Loan Borrower SUPER 8 FLORENCE SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/21/2004 Loan Approval Gross Amount $1,620,000 Loan Approval from the SBA Of the total $1,620,000 loan amount, the SBA guaranteed $1,215,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Super 8 Motel franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 7A Lenders in Knoxville, Tennessee
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