Borrow Money to Buy a Super 8 Motel Franchise
Borrowing money to purchase a Super 8 Motel franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.
Super 8 Motel franchise loans are available to Los Angeles, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Comerica Bank, based in Dallas, Texas, issued an SBA franchise loan for a Super 8 Motel franchise in 2001. We've got all the details on this California small business loan.
SBA Loan Borrower
ROSEBOWL SUPER 8 MOTEL
LOS ANGELES, CA 90232
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
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.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
3/20/2001
Loan Approval Gross Amount
$1,330,000
Loan Approval from the SBA
Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.
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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.
Next Steps for Getting an SBA Loan
If you need business start up money in Los Angeles CA, you ought to talk with a local Los Angeles SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Los Angeles businesses.
We can help you find the best banks for small businesses in Los Angeles or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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.
How to Raise Money
Best Dallas, Texas Banks for Small Business
Texas SBA Bank Lenders