Loan to Buy Motel 6 Franchise Issued By Citizens Bank

Borrowing money to invest in a Motel 6 franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

Motel 6 franchise loans are available to Traverse City, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Citizens Bank, based in Lansing, Michigan, issued an SBA franchise loan for a Motel 6 franchise in 2002. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

VIJAY AND HANSA GOPAL AND SRI
TRAVERSE CITY, MI 49686

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

9/24/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Citizens Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Motel 6 Operating L.P.

Alternative Financing

SBA Participating Banks in Lansing, Michigan

Getting a Business Loan in Michigan