Comerica Bank Provides SBA Loan to Buy Super 8 Motel Franchise

Borrowing money to invest in a Super 8 Motel franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Charlotte, North Carolina and are interested in buying a Super 8 Motel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Comerica Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SUPER 8
CHARLOTTE, NC 28269

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This business loan 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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/12/2000

Loan Approval Gross Amount

$1,040,000

Loan Approval from the SBA

Of the total $1,040,000 loan amount, the SBA guaranteed $749,996.

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 9 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

How to Raise Money

Small Business Banks in Dallas, Texas

Texas SBA Bank Lenders