Loan to Buy Microtel Franchise Issued By Comerica Bank

Need a loan to buy a Microtel franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Microtel franchise? If so, here's a 2001 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Fort Worth, Texas.

SBA Loan Borrower

MICROTEL INN & SUITES
FORT WORTH, TX 76137

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/13/2001

Loan Approval Gross Amount

$992,000

Loan Approval from the SBA

Of the total $992,000 loan amount, the SBA guaranteed $744,000.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Comerica 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.

Related Links:

Microtel Inns & Suites

The Art of Bootstrapping

SBA 7A Banks for Houston, Texas Loans

Texas SBA Banks