Tulsa, OK Entrepreneur Gets SBA Loan to Buy Super 8 Motel Franchise

Borrowing money to purchase a Super 8 Motel franchise? Mirae Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Super 8 Motel franchise? If so, here's a 2005 SBA franchise loan that you should know about. Mirae Bank was the lender and the entrepreneur was based in Tulsa, Oklahoma.

SBA Loan Borrower

SUPER 8 MOTEL
5811 SOUTH 49TH WEST AVENUE
TULSA, OK 74107

SBA Loan Lender

MIRAE BANK
3255 WILSHIRE BLVD, STE 1100
LOS ANGELES, CA 90010

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels (except Casino Hotels) and Motels

Loan Approval Date

5/12/2005

Loan Approval Gross Amount

$1,985,000

Loan Approval from the SBA

Of the total $1,985,000 loan amount, the SBA guaranteed $1,488,750.

More Information on This SBA Loan

The borrower, Super 8 Motel, 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 21 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. This loan was paid in full, and was closed out on 3/13/2008.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. Super 8 Motel recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Super 8 Motels, Inc.

Angel Investors

Small Business Banks in Los Angeles, California

Where to Get an SBA Loan California

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