Borrow Money to Buy an Econo Lodge Motel Franchise

Borrowing money to purchase an Econo Lodge Motel franchise? United Midwest Savings Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Fairfield, Ohio and are interested in buying an Econo Lodge Motel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by United Midwest Savings Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ECONOLODGE
FAIRFIELD, OH 45014

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

This commercial loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA promises a rapid loan approval or denial response.

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

6/6/2002

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Econo Lodge Motel franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Fairfield OH, you ought to talk with a local Fairfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fairfield businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

Obtaining Funding - How to Borrow Money

SBA Participating Banks in De Graff, Ohio

Getting an SBA Loan in Ohio