Reno, NV Entrepreneur Gets SBA Loan to Buy Super 8 Motel Franchise

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

Super 8 Motel franchise loans are available to Reno, Nevada entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Pacific Western Bank, based in Escondido, California, issued an SBA franchise loan for a Super 8 Motel franchise in 2005. We've got all the details on this Nevada small business loan.

SBA Loan Borrower

SUPER 8 MOTEL
RENO, NV 89503

SBA Loan Lender

PACIFIC WESTERN BANK
900 CANTERBURY PL
ESCONDIDO, CA 92025

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/9/2005

Loan Approval Gross Amount

$1,356,100

Loan Approval from the SBA

Of the total $1,356,100 loan amount, the SBA guaranteed $1,017,075.

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 8 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pacific Western Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pacific Western Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

Bank Credit Lines

Best Banks in Escondido, California

Where to Get an SBA Loan California