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November 21, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Knights Inn Loan | ||||
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Advice for Getting a Franchise Loan
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Yemassee, SC Entrepreneur Gets SBA Loan to Buy Knights Inn FranchiseBorrowing money to buy a Knights Inn franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Yemassee, South Carolina needed money to invest in a Knights Inn franchise back in 2005. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this South Carolina small business loan. SBA Loan Borrower KNIGHTS INN SBA Loan Lender CIT SMALL BUSINESS LENDING CORP 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 4/27/2005 Loan Approval Gross Amount $931,000 Loan Approval from the SBA Of the total $931,000 loan amount, the SBA guaranteed $698,250. 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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $931,000 loan. Remember, where there is a will, there is a way! 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. Obtaining Funding From a Venture Capitalist SBA Participating Banks in Livingston, New Jersey
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