Borrow Money to Buy a Microtel Franchise

Borrowing money to buy a Microtel franchise? Temecula Valley Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Charlotte, North Carolina needed money to invest in a Microtel franchise back in 2005. Temecula Valley Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

MICROTEL INN
CHARLOTTE, NC 28213

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

This SBA bank loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/27/2005

Loan Approval Gross Amount

$1,360,000

Loan Approval from the SBA

Of the total $1,360,000 loan amount, the SBA guaranteed $1,020,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Microtel franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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 Temecula Valley 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.

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