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November 21, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Parsons, Business Loans > Community So. Bank D.B.A Commun Parsons Business Loans > Hotels And Motels Loan | ||||
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Raising Money in Kingsport, Tennessee With SBA Loans
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How to Get a Loan for Hotels and MotelsLooking for business loans for hotels and motels? The SBA may be the answer. This $1,075,000 hotels and motels loan was issued by a Tennessee bank. This small business knew how to go about getting a business bank loan. Based in Kingsport, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Community So. Bank D.B.A Commun, based in Parsons, Tennessee. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/18/2007 Loan Approval Gross Amount $1,075,000 Loan Approval from the SBA Of the total $1,075,000 loan amount, the SBA guaranteed $806,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Approved Banks in Parsons, Tennessee
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