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May 5, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Super 8 Motel Downtown Memphi Loan | ||||
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Tennessee Small Business Funding for Franchises
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Borrow Money to Buy a Super 8 Motel FranchiseNeed a loan to buy a Super 8 Motel franchise? Business Loan Center, LLC 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 2003 SBA franchise loan that you should know about. Business Loan Center, LLC was the lender and the entrepreneur was based in Memphis, Tennessee. SBA Loan Borrower SUPER 8 MOTEL DOWNTOWN MEMPHI SBA Loan Lender BUSINESS LOAN CENTER, LLC This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 721110 - Hotels and Motels Loan Approval Date 12/9/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: Best New York, New York Banks for Small Business
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