Houston, TX Entrepreneur Gets SBA Loan to Buy Super 8 Motel Franchise
Need money to purchase a Super 8 Motel franchise? Business Loan Center, LLC 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 2002, Business Loan Center, LLC issued an SBA franchise loan to an entrepreneur in Houston, Texas. Because Super 8 Motel was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.
SBA Loan Borrower
SUPER 8
HOUSTON, TX 77098
SBA Loan Lender
BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
5/15/2002
Loan Approval Gross Amount
$1,500,000
Loan Approval from the SBA
Of the total $1,500,000 loan amount, the SBA guaranteed $999,990.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Super 8 Motel franchise. At the time of the loan, the company
had 4 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Business Loan Center, LLC are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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.
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