Community Bank Meridian Missis Provides SBA Loan to Buy Sleep Inn Motel Franchise

Borrowing money to buy a Sleep Inn Motel franchise? Community Bank Meridian Missis has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Sleep Inn Motel franchise? If so, here's a 2005 SBA franchise loan that you should know about. Community Bank Meridian Missis was the lender and the entrepreneur was based in Meridian, Mississippi.

SBA Loan Borrower

SLEEP INN
MERIDIAN, MS 39301

SBA Loan Lender

COMMUNITY BANK MERIDIAN MISSIS
301 22ND AVE SOUTH
MERIDIAN, MS 39301

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/15/2005

Loan Approval Gross Amount

$1,299,000

Loan Approval from the SBA

Of the total $1,299,000 loan amount, the SBA guaranteed $974,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sleep Inn Motel franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,299,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Sleep Inn and Sleep Inn & Suites

Raising VC Money for Social Networking Companies

Find an SBA Lender in Meridian, Mississippi

Where to Get an SBA Loan Mississippi