Fallon, NV Entrepreneur Gets SBA Loan to Buy Motel 6 Franchise

Borrowing money to purchase a Motel 6 franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Motel 6 franchise is doable. In 2000, Comerica Bank issued an SBA franchise loan to an entrepreneur in Fallon, Nevada. Because Motel 6 was registered with the SBA's registry of franchises, this Nevada small business loan was issued on an expedited basis.

SBA Loan Borrower

MOTEL 6
FALLON, NV 89406

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/20/2000

Loan Approval Gross Amount

$982,000

Loan Approval from the SBA

Of the total $982,000 loan amount, the SBA guaranteed $736,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Motel 6 franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

This SBA loan was for $982,000. How would you spend $982,000 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.

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