Morrisville, NC Entrepreneur Gets SBA Loan to Buy Microtel Franchise

Need a loan to buy a Microtel franchise? Temecula Valley Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Morrisville, North Carolina needed money to invest in a Microtel franchise back in 2003. Temecula Valley Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

MICROTEL INN
MORRISVILLE, NC 27560

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/24/2003

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Microtel franchise. At the time of the loan, the company had 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $1,300,000. How would you spend $1,300,000 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.

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Where to Get an SBA Loan in Temecula, California

California SBA 7A Banks