Unity Bank Provides SBA Loan to Buy Super 8 Motel Franchise

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

Super 8 Motel franchise loans are available to Bedford, Pennsylvania entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Unity Bank, based in Clinton, New Jersey, issued an SBA franchise loan for a Super 8 Motel franchise in 2007. We've got all the details on this Pennsylvania small business loan.

SBA Loan Borrower

BALAJI HOSPITALITY LLC SUPER 8
Bedford, PA 15522

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

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

6/14/2007

Loan Approval Gross Amount

$1,243,000

Loan Approval from the SBA

Of the total $1,243,000 loan amount, the SBA guaranteed $932,250.

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $1,243,000. How would you spend $1,243,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

Determining Proper Capital Structure for a Business

Good Banks for Small Business in Clinton, New Jersey

Browse All Business Loan Sources for New Jersey