Lompoc, CA Entrepreneur Gets SBA Loan to Buy Super 8 Motel Franchise

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

Super 8 Motel franchise loans are available to Lompoc, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Pacific Western Bank, based in Escondido, California, issued an SBA franchise loan for a Super 8 Motel franchise in 2004. We've got all the details on this California small business loan.

SBA Loan Borrower

SUPER 8 LOMPOC
LOMPOC, CA 93436

SBA Loan Lender

PACIFIC WESTERN BANK
900 CANTERBURY PL
ESCONDIDO, CA 92025

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

7/8/2004

Loan Approval Gross Amount

$948,400

Loan Approval from the SBA

Of the total $948,400 loan amount, the SBA guaranteed $711,300.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Pacific Western Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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