Savannah, GA Entrepreneur Gets SBA Loan to Buy Travelodge Franchise

Need a loan to purchase a Travelodge franchise? Queensborough National Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Travelodge franchise? If so, here's a 2003 SBA franchise loan that you should know about. Queensborough National Bank & Trust was the lender and the entrepreneur was based in Savannah, Georgia.

SBA Loan Borrower

TRAVELODGE MOTEL
SAVANNAH, GA 31419

SBA Loan Lender

QUEENSBOROUGH NATIONAL BANK & TRUST
120 S ZETTEROWER AVE
STATESBORO, GA 30458

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/3/2003

Loan Approval Gross Amount

$36,000

Loan Approval from the SBA

Of the total $36,000 loan amount, the SBA guaranteed $30,600.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Queensborough National Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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