Ozona, TX Entrepreneur Gets SBA Loan to Buy Travelodge Franchise

Need a loan to buy a Travelodge franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Ozona, Texas needed money to invest in a Travelodge franchise back in 2003. Comerica Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

TRAVELODGE OF OZONA
OZONA, TX 76943

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

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

1/10/2003

Loan Approval Gross Amount

$379,500

Loan Approval from the SBA

Of the total $379,500 loan amount, the SBA guaranteed $284,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Travelodge franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Ozona TX, you ought to talk with a local Ozona SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ozona businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Comerica Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Comerica Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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