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April 25, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Elizabethton, Business Loans > Citizens Bank Elizabethton Business Loans > Econolodge Loan | ||||
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SBA Franchise Lenders in Kentucky
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Citizens Bank Provides SBA Loan to Buy Choice Hotels International Inc. FranchiseBorrowing money to purchase a Choice Hotels International Inc. franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Choice Hotels International Inc. franchise shouldn't be overly burdensome. In 2003, Citizens Bank issued an SBA franchise loan to an entrepreneur in Mt. Vernon, Kentucky. Because Choice Hotels International Inc. was registered with the SBA's registry of franchises, this Kentucky small business loan was issued on an expedited basis. SBA Loan Borrower ECONOLODGE SBA Loan Lender CITIZENS BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to American small businesses. 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 8/19/2003 Loan Approval Gross Amount $716,000 Loan Approval from the SBA Of the total $716,000 loan amount, the SBA guaranteed $537,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Choice Hotels International, Inc. SBA 7A Banks in Elizabethton, Tennessee
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