Loan to Buy Econo Lodge Motel Franchise Issued By First Western Sblc, Inc

Need a loan to invest in an Econo Lodge Motel franchise? First Western Sblc, Inc has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Greenville, Texas needed money to invest in an Econo Lodge Motel franchise back in 2004. First Western Sblc, Inc issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

ECONOLODGE INN & SUITES
GREENVILLE, TX 75402

SBA Loan Lender

FIRST WESTERN SBLC, INC
17950 PRESTON RD, STE 600,
DALLAS, TX 75252

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/3/2004

Loan Approval Gross Amount

$983,000

Loan Approval from the SBA

Of the total $983,000 loan amount, the SBA guaranteed $737,250.

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 generate 2 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $983,000 loan. Remember, you control your own destiny.

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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