Borrego Springs Bank Provides SBA Loan to Buy Travelodge Franchise

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

Getting money to buy a Travelodge franchise shouldn't be too tough. In 2003, Borrego Springs Bank issued an SBA franchise loan to an entrepreneur in Temple, Texas. Because Travelodge was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

TRAVELODGE OF TEMPLE
TEMPLE, TX 76504

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

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

12/18/2003

Loan Approval Gross Amount

$187,200

Loan Approval from the SBA

Of the total $187,200 loan amount, the SBA guaranteed $140,400.

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 27 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Borrego Springs Bank and they will explain how you can get an SBA loan for your company.

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:

Travelodge Hotels, Inc.

The Art of Bootstrapping

SBA Banks in Borrego Springs, California

California SBA 7A Lenders