Loan to Buy Comfort Inn Franchise Issued By Citizens Bank

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

Want to borrow money to buy a Comfort Inn franchise? If so, here's a 2002 SBA franchise loan that you should know about. Citizens Bank was the lender and the entrepreneur was based in Ft. Mill, South Carolina.

SBA Loan Borrower

COMFORT INN CAROWINDS
FT. MILL, SC 29715

SBA Loan Lender

CITIZENS BANK
300 BROAD ST
ELIZABETHTON, TN 37643

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and a thorough understanding of SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$708,200

Loan Approval from the SBA

Of the total $708,200 loan amount, the SBA guaranteed $531,150.

More Information on This SBA Loan

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

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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 $708,200 loan. Remember, things become real when you believe you can achieve them!

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:

SBIR Funding

SBA Participating Banks in Elizabethton, Tennessee

Tennessee SBA 7A Lenders