Loan to Buy Rodeway Inns Franchise Issued By Freedom National Bank

Need money to buy a Rodeway Inns franchise? Freedom National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Rodeway Inns franchise? If so, here's a 2007 SBA franchise loan that you should know about. Freedom National Bank was the lender and the entrepreneur was based in Willington, Connecticut.

SBA Loan Borrower

RODEWAY INN
WILLINGTON, CT 06279

SBA Loan Lender

FREEDOM NATIONAL BANK
584 PUTNAM PIKE
GREENVILLE, RI 02828

This bank 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

721199 - Traveler Accommodation

Loan Approval Date

7/12/2007

Loan Approval Gross Amount

$1,900,000

Loan Approval from the SBA

Of the total $1,900,000 loan amount, the SBA guaranteed $1,425,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rodeway Inns franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Freedom National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Freedom National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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Rodeway Inns

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Rhode Island SBA 7A Lenders