Borrow Money to Buy an Econo Lodge Motel Franchise

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

Econo Lodge Motel franchise loans are available to Pagosa Springs, Colorado entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First State Bank Of Hotchkiss, based in Hotchkiss, Colorado, issued an SBA franchise loan for an Econo Lodge Motel franchise in 2001. We've got all the details on this Colorado small business loan.

SBA Loan Borrower

ECONO-LODGE
PAGOSA SPRINGS, CO 81147

SBA Loan Lender

FIRST STATE BANK OF HOTCHKISS
102 E BRIDGE ST
HOTCHKISS, CO 81419

This lender provides SBA 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

5/25/2001

Loan Approval Gross Amount

$1,546,000

Loan Approval from the SBA

Of the total $1,546,000 loan amount, the SBA guaranteed $999,999.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Econo Lodge Motel franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the funding would help generate 4 new jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $1,546,000. How would you spend $1,546,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

SBIR Funding

Best Banks in Hotchkiss, Colorado

SBA Lenders in Colorado