Spindale, NC Entrepreneur Gets SBA Loan to Buy Super 8 Motel Franchise

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

If you live near Spindale, North Carolina 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 2001 by Mountainbank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SUPER 8
SPINDALE, NC 28160

SBA Loan Lender

MOUNTAINBANK
201 WREN DR
HENDERSONVILLE, NC 28792

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/3/2001

Loan Approval Gross Amount

$1,215,000

Loan Approval from the SBA

Of the total $1,215,000 loan amount, the SBA guaranteed $911,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Super 8 Motel franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This SBA loan was for $1,215,000. How would you spend $1,215,000 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.

Related Links:

Super 8 Motels, Inc.

Obtaining Funding - Getting Venture Capital

Banks in Hendersonville, North Carolina

SBA Participating Banks in North Carolina