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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Austin, Business Loans > Wells Fargo Bank Austin Business Loans > Super 8 Motel Loan | ||||
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Raising Money in Midland, Texas With SBA Loans
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Midland, TX Entrepreneur Gets SBA Loan to Buy Super 8 Motel FranchiseBorrowing money to invest in a Super 8 Motel franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Super 8 Motel franchise? If so, here's a 2000 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Midland, Texas. SBA Loan Borrower SUPER 8 MOTEL SBA Loan Lender WELLS FARGO BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. 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 5/18/2000 Loan Approval Gross Amount $935,300 Loan Approval from the SBA Of the total $935,300 loan amount, the SBA guaranteed $701,475. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wells Fargo Bank and they will explain how you can get an SBA loan for your company. 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: Microlending as a Small Business Funding Source SBA Approved Banks in Austin, Texas
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