Forrest City, AR Entrepreneur Gets SBA Loan to Buy Super 8 Motel Franchise

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

Getting money to buy a Super 8 Motel franchise shouldn't be too tough. In 2001, Regions Bank issued an SBA franchise loan to an entrepreneur in Forrest City, Arkansas. Because Super 8 Motel was registered with the SBA's registry of franchises, this Arkansas small business loan was issued on an expedited basis.

SBA Loan Borrower

SUPER 8 HOTEL
FORREST CITY, AR 72335

SBA Loan Lender

REGIONS BANK
1751 CONGRESSMAN DICKINSON DR
MONTGOMERY, AL 36109

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/26/2001

Loan Approval Gross Amount

$1,551,000

Loan Approval from the SBA

Of the total $1,551,000 loan amount, the SBA guaranteed $999,992.

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 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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