Millbury, OH Entrepreneur Gets SBA Loan to Buy Knights Inn Franchise

Need a loan to purchase a Knights Inn franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Millbury, Ohio needed money to invest in a Knights Inn franchise back in 2000. The Huntington National Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

KNIGHT'S INN
MILLBURY, OH 43447

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
519 MADISON AVE
TOLEDO, OH 43604

At the time this loan was granted, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created to offer quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

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

1/11/2000

Loan Approval Gross Amount

$776,000

Loan Approval from the SBA

Of the total $776,000 loan amount, the SBA guaranteed $582,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Knights Inn franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Millbury 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:

Knights Inn

Knights Inn Franchise Canada Inc.

Borrowing Money from Friends and Family

Banks in Toledo, Ohio

Ohio SBA Bank Lenders