Florida Entrepreneur Secures Financing to Buy Super 8 Motel Franchise

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

An entrepreneur in Gainesville, Florida needed money to invest in a Super 8 Motel franchise back in 2004. Temecula Valley Bank issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

SUPER 8 MOTEL
GAINESVILLE, FL 32608

SBA Loan Lender

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

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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/15/2004

Loan Approval Gross Amount

$1,530,000

Loan Approval from the SBA

Of the total $1,530,000 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 10 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Temecula Valley Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Temecula, California

California SBA 7A Lenders