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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Clinton, Business Loans > Unity Bank Clinton Business Loans > Super 8 And Days Inn Loan | ||||
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How Much Does It Cost to Buy a Franchise in Ashland, Virginia?
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Ashland, VA Entrepreneur Gets SBA Loan to Buy Super 8 Motel FranchiseBorrowing money to invest in a Super 8 Motel franchise? Unity Bank 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 2001 SBA franchise loan that you should know about. Unity Bank was the lender and the entrepreneur was based in Ashland, Virginia. SBA Loan Borrower SUPER 8 AND DAYS INN SBA Loan Lender UNITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank 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 7/31/2001 Loan Approval Gross Amount $1,333,000 Loan Approval from the SBA Of the total $1,333,000 loan amount, the SBA guaranteed $999,750. 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 31 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Unity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Unity Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Role of Business Plan When Raising Money Find an SBA Lender in Clinton, New Jersey
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