Columbia, SC Entrepreneur Gets SBA Loan to Buy Knights Inn Franchise

Borrowing money to buy a Knights Inn franchise? Excel National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Knights Inn franchise? If so, here's a 2007 SBA franchise loan that you should know about. Excel National Bank was the lender and the entrepreneur was based in Columbia, South Carolina.

SBA Loan Borrower

KNIGHTS INN
COLUMBIA, SC 29210

SBA Loan Lender

EXCEL NATIONAL BANK
9701 WILSHIRE BLVD
BEVERLY HILLS, CA 90212

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

1/26/2007

Loan Approval Gross Amount

$662,000

Loan Approval from the SBA

Of the total $662,000 loan amount, the SBA guaranteed $496,500.

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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

Raising VC Money for Social Networking Companies

Banks in Beverly Hills, California

Getting a Business Loan in California