Battle Creek, MI Entrepreneur Gets SBA Loan to Buy Super 8 Motel Franchise

Need a loan to purchase a Super 8 Motel franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Super 8 Motel franchise is doable. In 2005, Small Business Loan Source LLC issued an SBA franchise loan to an entrepreneur in Battle Creek, Michigan. Because Super 8 Motel was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

SUPER 8 MOTEL OF BATTLE CREEK
BATTLE CREEK, MI 49015

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

12/1/2005

Loan Approval Gross Amount

$966,000

Loan Approval from the SBA

Of the total $966,000 loan amount, the SBA guaranteed $724,500.

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 5 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Battle Creek or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Super 8 Motels, Inc.

Startup Funding Tip

SBA 7A Lenders in Houston, Texas

Texas SBA 7A Banks