Citizens Bank Provides SBA Loan to Buy Super 8 Motel Franchise

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

Super 8 Motel franchise loans are available to Southaven, Mississippi entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Citizens Bank, based in Elizabethton, Tennessee, issued an SBA franchise loan for a Super 8 Motel franchise in 2001. We've got all the details on this Mississippi small business loan.

SBA Loan Borrower

SUPER 8 MOTEL
SOUTHAVEN, MS 38671

SBA Loan Lender

CITIZENS BANK
300 BROAD ST
ELIZABETHTON, TN 37643

This SBA small business loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/5/2001

Loan Approval Gross Amount

$1,333,000

Loan Approval from the SBA

Of the total $1,333,000 loan amount, the SBA guaranteed $999,750.

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 12 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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Best Banks in Elizabethton, Tennessee

SBA Lenders in Tennessee