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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Super 8 Motel Loan | ||||
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Requirements for Borrowing Money to Buy a Franchise
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Aurora, CO Entrepreneur Gets SBA Loan to Buy Super 8 Motel FranchiseNeed a loan to buy a Super 8 Motel franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Super 8 Motel franchise? If so, here's a 2000 SBA franchise loan that you should know about. U.S. Bank National Association was the lender and the entrepreneur was based in Aurora, Colorado. SBA Loan Borrower SUPER 8 MOTEL SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels Loan Approval Date 5/5/2000 Loan Approval Gross Amount $1,500,000 Loan Approval from the SBA Of the total $1,500,000 loan amount, the SBA guaranteed $750,000. 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 indicated that the loan would help retain 15 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into U.S. Bank National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Advice on Getting a Small Business Loan Best Cincinnati, Ohio Banks for Small Business
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