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November 21, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Los Angeles, Business Loans > Mirae Bank Los Angeles Business Loans > Super 8 Motel Loan | ||||
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Advice for Getting a Franchise Loan
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Tulsa, OK Entrepreneur Gets SBA Loan to Buy Super 8 Motel FranchiseBorrowing money to purchase a Super 8 Motel franchise? Mirae 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 2005 SBA franchise loan that you should know about. Mirae Bank was the lender and the entrepreneur was based in Tulsa, Oklahoma. SBA Loan Borrower SUPER 8 MOTEL SBA Loan Lender MIRAE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 5/12/2005 Loan Approval Gross Amount $1,985,000 Loan Approval from the SBA Of the total $1,985,000 loan amount, the SBA guaranteed $1,488,750. 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 21 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Small Business Banks in Los Angeles, California Where to Get an SBA Loan California
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