Loan to Buy Super 8 Motel Franchise Issued By Unity Bank

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

An entrepreneur in Latham, New York needed money to invest in a Super 8 Motel franchise back in 2000. Unity Bank issued an SBA franchise loan. Here are the details on this New York small business loan.

SBA Loan Borrower

SUPER 8 MOTEL
LATHAM, NY 12110

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to our country's hard-working small business owners.

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

3/7/2000

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $750,000.

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 8 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

Obtaining Funding From a Venture Capitalist

SBA 7A Lenders in Clinton, New Jersey

New Jersey SBA 7A Lenders