Loan to Buy Super 8 Motel Franchise Issued By Community So. Bank D.B.A Commun

Borrowing money to invest in a Super 8 Motel franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.

Super 8 Motel franchise loans are available to Alpharetta, Georgia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Community So. Bank D.B.A Commun, based in Parsons, Tennessee, issued an SBA franchise loan for a Super 8 Motel franchise in 2005. We've got all the details on this Georgia small business loan.

SBA Loan Borrower

SUPER 8 VILLA RICA
ALPHARETTA, GA 30022

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

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

10/5/2005

Loan Approval Gross Amount

$1,746,000

Loan Approval from the SBA

Of the total $1,746,000 loan amount, the SBA guaranteed $1,309,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Super 8 Motel franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

The Friends and Family Network

Best Parsons, Tennessee Banks for Small Business

SBA Lenders in Tennessee