Loan to Buy Super 8 Motel Franchise Issued By Kleinbank

Need a loan to buy a Super 8 Motel franchise? Kleinbank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Hibbing, Minnesota needed money to invest in a Super 8 Motel franchise back in 2003. Kleinbank issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

HIBBING SUPER 8
HIBBING, MN 55746

SBA Loan Lender

KLEINBANK
800 FAXON RD
NORWOOD YOUNG AMERICA, MN 55368

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/13/2003

Loan Approval Gross Amount

$806,000

Loan Approval from the SBA

Of the total $806,000 loan amount, the SBA guaranteed $604,500.

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 20 employees. The loan application indicated that the loan would help retain 20 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $806,000 loan. Remember, where there is a will, there is a way!

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.

Getting a Small Business Loan

SBA Approved Banks in Norwood Young America, Minnesota

SBA Lenders in Minnesota