Richmond, KY Entrepreneur Gets SBA Loan to Buy Knights Inn Franchise

Borrowing money to purchase a Knights Inn franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Knights Inn franchise? If so, here's a 2000 SBA franchise loan that you should know about. Citizens Bank was the lender and the entrepreneur was based in Richmond, Kentucky.

SBA Loan Borrower

KNIGHTS INN
RICHMOND, KY 40475

SBA Loan Lender

CITIZENS BANK
300 BROAD ST
ELIZABETHTON, TN 37643

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

4/24/2000

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

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 10 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Richmond KY, you ought to talk with a local Richmond SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Richmond businesses.

We can help you find the best banks for small businesses in Richmond 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.

Financing Your Business

Good Banks for Small Business in Elizabethton, Tennessee

SBA Lenders in Tennessee