Indiana Entrepreneur Secures Financing to Buy Travelodge Franchise

Need money to buy a Travelodge franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

Travelodge franchise loans are available to Edinburgh, Indiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Citizens Bank, based in Elizabethton, Tennessee, issued an SBA franchise loan for a Travelodge franchise in 2002. We've got all the details on this Indiana small business loan.

SBA Loan Borrower

TRAVELODGE
EDINBURGH, IN 47246

SBA Loan Lender

CITIZENS BANK
300 BROAD ST
ELIZABETHTON, TN 37643

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

2/21/2002

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Travelodge franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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Small Bank Loans in Elizabethton, Tennessee

SBA Participating Banks in Tennessee