Tyler, TX Entrepreneur Gets SBA Loan to Buy Econo Lodge Motel Franchise

Need a loan to buy an Econo Lodge Motel franchise? First Western Sblc, Inc has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Econo Lodge Motel franchise? If so, here's a 2005 SBA franchise loan that you should know about. First Western Sblc, Inc was the lender and the entrepreneur was based in Tyler, Texas.

SBA Loan Borrower

ECONO LODGE
TYLER, TX 75702

SBA Loan Lender

FIRST WESTERN SBLC, INC
17950 PRESTON RD, STE 600,
DALLAS, TX 75252

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

1/31/2005

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Econo Lodge Motel franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

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

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.

Related Links:

Econo Lodges of America, Inc.

How Equity Dilution Works

Find an SBA Lender in Dallas, Texas

Getting an SBA Loan in Texas