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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > Bremer Bank Saint Cloud Business Loans > Super 8 Loan | ||||
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How Can I Buy a Franchise in Windom, Minnesota?
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Windom, MN Entrepreneur Gets SBA Loan to Buy Super 8 Motel FranchiseBorrowing money to buy a Super 8 Motel franchise? Bremer Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Windom, Minnesota 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 Bremer Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower SUPER 8 SBA Loan Lender BREMER BANK This lender provides SBA 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 4/12/2001 Loan Approval Gross Amount $1,016,000 Loan Approval from the SBA Of the total $1,016,000 loan amount, the SBA guaranteed $762,000. 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 4 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Participating Banks in Saint Cloud, Minnesota
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