Savannah, GA Entrepreneur Gets SBA Loan to Buy Travelodge Franchise

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

Getting money to buy a Travelodge franchise is doable. In 2002, Queensborough National Bank & Trust issued an SBA franchise loan to an entrepreneur in Savannah, Georgia. Because Travelodge was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis.

SBA Loan Borrower

TRAVELODGE
SAVANNAH, GA 31419

SBA Loan Lender

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

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/5/2002

Loan Approval Gross Amount

$227,350

Loan Approval from the SBA

Of the total $227,350 loan amount, the SBA guaranteed $170,513.

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. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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