First Volunteer Bank - Tennessee Provides SBA Loan to Buy Knights Inn Franchise

Need a loan to buy a Knights Inn franchise? First Volunteer Bank - Tennessee has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Chattanooga, Tennessee needed money to invest in a Knights Inn franchise back in 2001. First Volunteer Bank - Tennessee issued an SBA franchise loan. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

KNIGHTS INN
CHATTANOOGA, TN 37419

SBA Loan Lender

FIRST VOLUNTEER BANK - TENNESSEE
728 BROAD ST
CHATTANOOGA, TN 37402

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/19/2001

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First Volunteer Bank - Tennessee so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

Knights Inn Franchise Canada Inc.

Bank Credit Lines

SBA 7A Banks for Chattanooga, Tennessee Loans

Tennessee SBA Banks