The Huntington National Bank Provides SBA Loan to Buy Knights Inn Franchise

Need a loan to invest in a Knights Inn franchise? The Huntington 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 2005 SBA franchise loan that you should know about. The Huntington National Bank was the lender and the entrepreneur was based in Gahanna, Ohio.

SBA Loan Borrower

KNIGHTS INN
GAHANNA, OH 43230

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
220 MARKET AVE SOUTH, UNITED
CANTON, OH 44702

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

3/18/2005

Loan Approval Gross Amount

$1,820,000

Loan Approval from the SBA

Of the total $1,820,000 loan amount, the SBA guaranteed $1,365,000.

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 21 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Huntington National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

Microlending as a Small Business Funding Source

SBA 7A Banks for Canton, Ohio Loans

Find an SBA Lender in Ohio