Knoxville, Tennessee Bank Gives SBA Loan to Hotels And Motels Company
Get SBA loans from a Knoxville, Tennessee bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.
Community So. Bank D.B.A Commun is a Knoxville, Tennessee small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a North Carolina company.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
GREENVILLE, NC 27834
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902
This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
7/29/2004
Loan Approval Gross Amount
$1,956,000
Loan Approval from the SBA
Of the total $1,956,000 loan amount, the SBA guaranteed $1,467,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 100 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community So. Bank D.B.A Commun and they will explain how you can get an SBA loan for your company.
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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