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May 6, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Eminence, Business Loans > Farmers Deposit Bank Eminence Business Loans > Motel 6 Of Seymour, In Loan | ||||
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I Need a Business Loan to Buy a Franchise in Seymour, Indiana
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Seymour, IN Entrepreneur Gets SBA Loan to Buy Motel 6 FranchiseBorrowing money to buy a Motel 6 franchise? Farmers Deposit Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Seymour, Indiana needed money to invest in a Motel 6 franchise back in 2007. Farmers Deposit Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan. SBA Loan Borrower MOTEL 6 OF SEYMOUR, IN SBA Loan Lender FARMERS DEPOSIT BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 4/23/2007 Loan Approval Gross Amount $1,100,000 Loan Approval from the SBA Of the total $1,100,000 loan amount, the SBA guaranteed $825,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Motel 6 franchise. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower indicated that the loan would help retain 18 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Farmers Deposit 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: SBA 7A Banks in Eminence, Kentucky
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