Loan to Buy Quality Inn Franchise Issued By Community So. Bank D.B.A Commun

Need a loan to purchase a Quality Inn franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.

Quality Inn franchise loans are available to Greenville, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Community So. Bank D.B.A Commun, based in Knoxville, Tennessee, issued an SBA franchise loan for a Quality Inn franchise in 2004. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

QUALITY INN
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 bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

5/18/2004

Loan Approval Gross Amount

$1,588,000

Loan Approval from the SBA

Of the total $1,588,000 loan amount, the SBA guaranteed $1,191,000.

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 SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

We can help you find the best banks for small businesses in Greenville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Quality Inn

Business Cash Advances

SBA Participating Banks in Knoxville, Tennessee

Tennessee SBA 7A Lenders