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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Mount Vernon Knights Inn Loan | ||||
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Banks for Mount Vernon, Illinois Small Businesses
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Mount Vernon, IL Entrepreneur Gets SBA Loan to Buy Knights Inn FranchiseNeed money to buy a Knights Inn franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Knights Inn franchise may simply require a phone call to a local SBA banker. In 2001, Business Loan Center, LLC issued an SBA franchise loan to an entrepreneur in Mount Vernon, Illinois. Because Knights Inn was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis. SBA Loan Borrower MOUNT VERNON KNIGHTS INN SBA Loan Lender BUSINESS LOAN CENTER, LLC As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 7/12/2001 Loan Approval Gross Amount $550,000 Loan Approval from the SBA Of the total $550,000 loan amount, the SBA guaranteed $412,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Business Loan Center, LLC that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Franchise Canada Inc. Borrowing Money from Friends and Family Who Lends Money to Small Businesses in Richmond, Virginia
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