 |
 |
April 19, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Millington, Business Loans > Patriot Bank Millington Business Loans > Days Inn Loan | ||||
 |
||||
Patriot Bank Franchise Loans
|
||||
 |
Millington, TN Entrepreneur Gets SBA Loan to Buy Days Inn FranchiseNeed money to purchase a Days Inn franchise? Patriot Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Millington, Tennessee needed money to invest in a Days Inn franchise back in 2004. Patriot Bank issued an SBA franchise loan. Here are the details on this Tennessee small business loan. SBA Loan Borrower DAYS INN SBA Loan Lender PATRIOT BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. 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 5/18/2004 Loan Approval Gross Amount $924,000 Loan Approval from the SBA Of the total $924,000 loan amount, the SBA guaranteed $693,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Days Inn franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to find other ways to get money to start a business, 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 Participating Banks in Millington, Tennessee
|
|
||
|
||||
|
|
||||