Borrow Money to Buy a Budget Host Super 7 Motel Franchise

Need money to purchase a Budget Host Super 7 Motel franchise? United Central Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Pasadena, Texas and are interested in buying a Budget Host Super 7 Motel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by United Central Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BUDGET HOST - PASADENA
PASADENA, TX 77505

SBA Loan Lender

UNITED CENTRAL BANK
4555 W WALNUT ST
GARLAND, TX 75042

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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/30/2001

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Budget Host Super 7 Motel franchise. At the time of the loan, the company had 16 employees. This SBA loan request indicated that the funding would help generate 6 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into United Central Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Determining Proper Capital Structure for a Business

Best Garland, Texas Banks for Small Business

Getting a Business Loan in Texas