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November 13, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Knoxville, Business Loans > Community So. Bank D.B.A Commun Knoxville Business Loans > Best Value Inn & Suites Loan | ||||
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Banks for Madison Heights, Virginia Small Businesses
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Loan to Buy Best Value Inn Franchise Issued By Community So. Bank D.B.A CommunBorrowing money to invest in a Best Value Inn franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Best Value Inn franchise? If so, here's a 2004 SBA franchise loan that you should know about. Community So. Bank D.B.A Commun was the lender and the entrepreneur was based in Madison Heights, Virginia. SBA Loan Borrower BEST VALUE INN & SUITES SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/23/2004 Loan Approval Gross Amount $905,000 Loan Approval from the SBA Of the total $905,000 loan amount, the SBA guaranteed $678,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Best Value 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 increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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've showcased information on this loan to let you know that businesses like yours 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: Who Lends Money to Small Businesses in Knoxville, Tennessee
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