Owensboro, KY Entrepreneur Gets SBA Loan to Buy Super 8 Motel Franchise

Need money to purchase a Super 8 Motel franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA.

If you live near Owensboro, Kentucky and are interested in buying a Super 8 Motel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Small Business Loan Source LLC. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SUPER 8 MOTEL OF OWENSBORO
OWENSBORO, KY 42301

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

1/10/2003

Loan Approval Gross Amount

$960,000

Loan Approval from the SBA

Of the total $960,000 loan amount, the SBA guaranteed $720,000.

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 11 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

Dealing With Venture Capitalists

SBA 7A Lenders in Houston, Texas

Getting an SBA Loan in Texas