California Entrepreneur Secures Financing to Buy Motel 6 Franchise

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

Want to borrow money to buy a Motel 6 franchise? If so, here's a 2000 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Riverside, California.

SBA Loan Borrower

MOTEL 6
RIVERSIDE, CA 92503

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/28/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Motel 6 franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower indicated that the loan would help retain 9 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Riverside CA, you ought to talk with a local Riverside SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Riverside businesses.

This company got an SBA loan. You can too! Maybe you want money for start up 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.

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