Newtek Small Business Finance Inc. Provides SBA Loan to Buy Travelodge Franchise

Need a loan to invest in a Travelodge franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Knoxville, Tennessee needed money to invest in a Travelodge franchise back in 2000. Newtek Small Business Finance Inc. issued an SBA franchise loan. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

BEST INN
KNOXVILLE, TN 37921

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

This lender issued this bank loan under the SBA's 7A loan, 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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/1/2000

Loan Approval Gross Amount

$770,000

Loan Approval from the SBA

Of the total $770,000 loan amount, the SBA guaranteed $577,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Travelodge franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $770,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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