Borrow Money to Buy a Quality Inn Franchise

Borrowing money to invest in a Quality Inn franchise? Darby Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Columbia, South Carolina needed money to invest in a Quality Inn franchise back in 2002. Darby Bank & Trust issued an SBA franchise loan. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

QUALITY INN & SUITES
COLUMBIA, SC 29210

SBA Loan Lender

DARBY BANK & TRUST
300 E FIRST ST
VIDALIA, GA 30474

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/29/2002

Loan Approval Gross Amount

$1,005,000

Loan Approval from the SBA

Of the total $1,005,000 loan amount, the SBA guaranteed $753,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Quality Inn franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,005,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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