Loan to Buy Super 8 Motel Franchise Issued By First Western Sblc, Inc

Need a loan to purchase a Super 8 Motel franchise? First Western Sblc, Inc has a history of making these loans and they are guaranteed by the SBA.

Super 8 Motel franchise loans are available to Springdale, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Western Sblc, Inc, based in Dallas, Texas, issued an SBA franchise loan for a Super 8 Motel franchise in 2004. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

SUPER 8 MOTEL
SPRINGDALE, OH 45246

SBA Loan Lender

FIRST WESTERN SBLC, INC
17950 PRESTON RD, STE 600,
DALLAS, TX 75252

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/9/2004

Loan Approval Gross Amount

$1,525,000

Loan Approval from the SBA

Of the total $1,525,000 loan amount, the SBA guaranteed $1,143,750.

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 22 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First Western Sblc, Inc so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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