Loan to Buy Super 8 Motel Franchise Issued By Comerica Bank

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

Getting money to buy a Super 8 Motel franchise requires some effort but others before you have been successful. In 2002, Comerica Bank issued an SBA franchise loan to an entrepreneur in Logan, Utah. Because Super 8 Motel was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis.

SBA Loan Borrower

SUPER 8 MOTEL - LOGAN
LOGAN, UT 84321

SBA Loan Lender

COMERICA BANK
455 CAPITAL MALL, STE 115
SACRAMENTO, CA 95814

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and are well trained in SBA lending rules and regulations.

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

8/7/2002

Loan Approval Gross Amount

$757,000

Loan Approval from the SBA

Of the total $757,000 loan amount, the SBA guaranteed $567,750.

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 only one employee. This SBA loan request did not indicate that the company promised 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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