Tomahawk, WI Entrepreneur Gets SBA Loan to Buy Super 8 Motel Franchise

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

Want to borrow money to buy a Super 8 Motel franchise? If so, here's a 2002 SBA franchise loan that you should know about. Borrego Springs Bank was the lender and the entrepreneur was based in Tomahawk, Wisconsin.

SBA Loan Borrower

SUPER 8 MOTEL
TOMAHAWK, WI 54487

SBA Loan Lender

BORREGO SPRINGS BANK
7777 ALVARADO RD, STE 114
LA MESA, CA 91941

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

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

4/22/2002

Loan Approval Gross Amount

$1,250,000

Loan Approval from the SBA

Of the total $1,250,000 loan amount, the SBA guaranteed $937,500.

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 18 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Borrego Springs Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

Banking Deregulation's Effects on Entrepreneurship

Best La Mesa, California Banks for Small Business

SBA California Lenders