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May 1, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Richfield, Business Loans > M&i Marshall & Ilsley Bank Richfield Business Loans > Arden Hills Super 8 Motel Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Minnesota Entrepreneur Secures Financing to Buy Super 8 Motel FranchiseNeed money to purchase a Super 8 Motel franchise? M&i Marshall & Ilsley Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Super 8 Motel franchise shouldn't be overly burdensome. In 2002, M&i Marshall & Ilsley Bank issued an SBA franchise loan to an entrepreneur in Arden Hills, Minnesota. Because Super 8 Motel was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis. SBA Loan Borrower ARDEN HILLS SUPER 8 MOTEL SBA Loan Lender M&I MARSHALL & ILSLEY BANK This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and a thorough understanding of SBA policies and procedures. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/28/2002 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,000,000. 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 15 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like M&i Marshall & Ilsley Bank and they will explain how you can get an SBA loan for your company. 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 for Richfield, Minnesota Loans
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