Loan to Buy Super 8 Motel Franchise Issued By The Laredo National Bank

Borrowing money to buy a Super 8 Motel franchise? The Laredo National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Alamo, Texas needed money to invest in a Super 8 Motel franchise back in 2000. The Laredo National Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

BEST ALAMO HOSPITALITY, INC.
ALAMO, TX 78516

SBA Loan Lender

THE LAREDO NATIONAL BANK
525 S MAIN ST
DEL RIO, TX 78840

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

9/29/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Super 8 Motel franchise. At the time of the loan, the company had 18 employees. The loan application indicated that the funding would help create 18 new jobs.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $1,000,000 loan. Remember, fight for what you want, and it will be yours!

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:

Super 8 Motels, Inc.

Getting a Small Business Loan

Small Bank Loans in Del Rio, Texas

SBA Texas Banks