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May 2, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Knights Inn Loan | ||||
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How Much Does It Cost to Buy a Franchise in San Antonio, Texas?
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San Antonio, TX Entrepreneur Gets SBA Loan to Buy Knights Inn FranchiseBorrowing money to purchase a Knights Inn franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Knights Inn franchise is doable. In 2000, Washington Mutual Bank issued an SBA franchise loan to an entrepreneur in San Antonio, Texas. Because Knights Inn was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower KNIGHTS INN SBA Loan Lender WASHINGTON MUTUAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. 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 8/17/2000 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Knights Inn franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help retain 10 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,000,000 loan. Remember, feel the fear, and do it anyway. 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: Knights Inn Franchise Canada Inc. Best Henderson, Nevada Banks for Small Business
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