Gallup, NM Entrepreneur Gets SBA Loan to Buy Econo Lodge Motel Franchise

Borrowing money to purchase an Econo Lodge Motel franchise? Pmc Capital, Inc. has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Econo Lodge Motel franchise? If so, here's a 2004 SBA franchise loan that you should know about. Pmc Capital, Inc. was the lender and the entrepreneur was based in Gallup, New Mexico.

SBA Loan Borrower

ECONOLODGE
GALLUP, NM 87301

SBA Loan Lender

PMC CAPITAL, INC.
18111 PRESTON ROAD, SUITE 600
DALLAS, TX 75252

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/5/2004

Loan Approval Gross Amount

$1,074,000

Loan Approval from the SBA

Of the total $1,074,000 loan amount, the SBA guaranteed $805,500.

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 did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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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