Loan to Buy Knights Inn Franchise Issued By Mcfarland State Bank

Need a loan to buy a Knights Inn franchise? Mcfarland State Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Madison, Wisconsin and are interested in buying a Knights Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Mcfarland State Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

KNIGHTS INN
MADISON, WI 53704

SBA Loan Lender

MCFARLAND STATE BANK
5990 HWY 51
MCFARLAND, WI 53558

This lender issued this commercial loan under the 7A SBA program, 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.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

5/31/2000

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $392,328.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Knights Inn franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

Obtaining Funding From a Venture Capitalist

Small Bank Loans in Mcfarland, Wisconsin

SBA Lenders in Wisconsin