Borrow Money to Buy a Travelodge Franchise

Need a loan to invest in a Travelodge franchise? Alma Exchange Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Augusta, Georgia and are interested in buying a Travelodge franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Alma Exchange Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

TRAVELODGE MOTEL
AUGUSTA, GA 30907

SBA Loan Lender

ALMA EXCHANGE BANK & TRUST
501 W 12TH ST
ALMA, GA 31510

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/11/2003

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Travelodge franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Travelodge Hotels, Inc.

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Alma, Georgia

Georgia SBA 7A Banks