Anderson, SC Entrepreneur Gets SBA Loan to Buy Super 8 Motel Franchise

Need money to buy a Super 8 Motel franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Anderson, South Carolina needed money to invest in a Super 8 Motel franchise back in 2004. Small Business Loan Source LLC issued an SBA franchise loan. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

SUPER 8 MOTEL
ANDERSON, SC 29621

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

This debt financing 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

11/12/2004

Loan Approval Gross Amount

$1,169,000

Loan Approval from the SBA

Of the total $1,169,000 loan amount, the SBA guaranteed $876,750.

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 6 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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