Pella, IA Entrepreneur Gets SBA Loan to Buy Holiday Inn Express Franchise

Need a loan to buy a Holiday Inn Express franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.

Holiday Inn Express franchise loans are available to Pella, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Community So. Bank D.B.A Commun, based in Knoxville, Tennessee, issued an SBA franchise loan for a Holiday Inn Express franchise in 2005. We've got all the details on this Iowa small business loan.

SBA Loan Borrower

HOLIDAY INN EXPRESS OF PELLA,
PELLA, IA 50219

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/29/2005

Loan Approval Gross Amount

$1,870,000

Loan Approval from the SBA

Of the total $1,870,000 loan amount, the SBA guaranteed $1,402,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Holiday Inn Express franchise. At the time of the loan, the company had 9 employees. 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.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Holiday Inn Worldwide

Business Credit Evaluation

Best Banks for Small Business in Knoxville, Tennessee

Tennessee SBA 7A Lenders