Georgia Entrepreneur Secures Financing to Buy Econo Lodge Motel Franchise

Need money to buy an Econo Lodge Motel franchise? Haven Trust Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Elberton, Georgia needed money to invest in an Econo Lodge Motel franchise back in 2007. Haven Trust Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

NANDAN INC
ELBERTON, GA 30635

SBA Loan Lender

HAVEN TRUST BANK
6340 SUGARLOAF PKWY, STE 100
DULUTH, GA 30097

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

5/23/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Econo Lodge Motel franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $25,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Econo Lodges of America, Inc.

Accountant's Role in Securing Financing

Small Bank Loans in Duluth, Georgia

Georgia SBA 7A Banks