Loan to Buy Super 8 Motel Franchise Issued By Citizens Bank

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

Getting money to buy a Super 8 Motel franchise may simply require a phone call to a local SBA banker. In 2003, Citizens Bank issued an SBA franchise loan to an entrepreneur in Mayfield, Kentucky. Because Super 8 Motel was registered with the SBA's registry of franchises, this Kentucky small business loan was issued on an expedited basis.

SBA Loan Borrower

SUPER 8 MOTEL
MAYFIELD, KY 42066

SBA Loan Lender

CITIZENS BANK
300 BROAD ST
ELIZABETHTON, TN 37643

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/22/2003

Loan Approval Gross Amount

$1,130,000

Loan Approval from the SBA

Of the total $1,130,000 loan amount, the SBA guaranteed $847,500.

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. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

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.

This SBA loan was for $1,130,000. How would you spend $1,130,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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 Much Venture Capital Is There?

SBA Approved Banks in Elizabethton, Tennessee

Find an SBA Lender in Tennessee