Hillsboro, TX Entrepreneur Gets SBA Loan to Buy Motel 6 Franchise

Need a loan to buy a Motel 6 franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Hillsboro, Texas needed money to invest in a Motel 6 franchise back in 2000. Comerica Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

MOTEL 6 HILLSBORO
HILLSBORO, TX 76645

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

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

10/13/2000

Loan Approval Gross Amount

$745,000

Loan Approval from the SBA

Of the total $745,000 loan amount, the SBA guaranteed $558,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Motel 6 franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 11 new jobs and retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

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:

Motel 6 Operating L.P.

Direct Public Offerings

SBA 7A Banks for Houston, Texas Loans

Getting a Business Loan in Texas