Minnesota Entrepreneur Secures Financing to Buy Super 8 Motel Franchise

Need money to purchase a Super 8 Motel franchise? M&i Marshall & Ilsley Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Super 8 Motel franchise shouldn't be overly burdensome. In 2002, M&i Marshall & Ilsley Bank issued an SBA franchise loan to an entrepreneur in Arden Hills, Minnesota. Because Super 8 Motel was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

ARDEN HILLS SUPER 8 MOTEL
ARDEN HILLS, MN 55112

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
6625 LYNDALE AVE SOUTH
RICHFIELD, MN 55402

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/28/2002

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,000,000.

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 15 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like M&i Marshall & Ilsley Bank and they will explain how you can get an SBA loan for your company.

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.

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SBA 7A Banks for Richfield, Minnesota Loans

Minnesota SBA 7A Lenders