Center Bank Provides SBA Loan to Buy Econo Lodge Motel Franchise

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

Econo Lodge Motel franchise loans are available to Fort Stockton, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Center Bank, based in Los Angeles, California, issued an SBA franchise loan for an Econo Lodge Motel franchise in 2006. We've got all the details on this Texas small business loan.

SBA Loan Borrower

ECONO LODGE
FORT STOCKTON, TX 79735

SBA Loan Lender

CENTER BANK
3435 WILSHIRE BLVD, STE 700
LOS ANGELES, CA 90010

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

12/4/2006

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

Related Links:

Econo Lodges of America, Inc.

How to Raise Money

Small Business Banks in Los Angeles, California

SBA California Banks