Ohio Entrepreneur Secures Financing to Buy Travelodge Franchise

Need a loan to purchase a Travelodge franchise? United Midwest Savings 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 2001, United Midwest Savings Bank issued an SBA franchise loan to an entrepreneur in Willoughby, Ohio. Because Travelodge was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

TRAVELODGE
WILLOUGHBY, OH 44136

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/2/2001

Loan Approval Gross Amount

$1,332,500

Loan Approval from the SBA

Of the total $1,332,500 loan amount, the SBA guaranteed $999,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Travelodge franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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