Georgia Entrepreneur Secures Financing to Buy Super 8 Motel Franchise

Borrowing money to buy a Super 8 Motel franchise? Citizens Bank & Tr - W. Georgia has a history of making these loans and they are guaranteed by the SBA.

If you live near Villa Rica, Georgia 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 Citizens Bank & Tr - W. Georgia. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SUPER 8 MOTEL
VILLA RICA, GA 30180

SBA Loan Lender

CITIZENS BANK & TR - W. GEORGIA
115 COLLEGE ST
CARROLLTON, GA 30117

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

12/14/2001

Loan Approval Gross Amount

$1,325,000

Loan Approval from the SBA

Of the total $1,325,000 loan amount, the SBA guaranteed $993,750.

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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens Bank & Tr - W. Georgia that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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