United Midwest Savings Bank Provides SBA Loan to Buy Econo Lodge Motel Franchise

Need 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

At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program aims to ensure rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

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

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $825,000.

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. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like United Midwest Savings Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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Best Banks for Small Business in De Graff, Ohio

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