Ephrata, WA Entrepreneur Gets SBA Loan to Buy Travelodge Franchise

Borrowing money to invest in a Travelodge franchise? Cathay Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Travelodge franchise shouldn't be overly burdensome. In 2007, Cathay Bank issued an SBA franchise loan to an entrepreneur in Ephrata, Washington. Because Travelodge was registered with the SBA's registry of franchises, this Washington small business loan was issued on an expedited basis.

SBA Loan Borrower

TRAVELODGE
EPHRATA, WA 98823

SBA Loan Lender

CATHAY BANK
777 N BROADWAY
LOS ANGELES, CA 90012

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/13/2007

Loan Approval Gross Amount

$596,000

Loan Approval from the SBA

Of the total $596,000 loan amount, the SBA guaranteed $447,000.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

If you have been wondering how do i get money to start a business in Ephrata WA, you ought to talk with a local Ephrata SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ephrata businesses.

We've showcased information on this loan to let you know that businesses like yours 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.

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