Pennsylvania Entrepreneur Secures Financing to Buy Econo Lodge Motel Franchise

Borrowing money to buy an Econo Lodge Motel franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near White Haven, Pennsylvania and are interested in buying an Econo Lodge Motel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Commerce Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

KRSNA ENTERPRISE, INC.
White Haven, PA 18661

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/7/2006

Loan Approval Gross Amount

$995,000

Loan Approval from the SBA

Of the total $995,000 loan amount, the SBA guaranteed $746,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Econo Lodge Motel franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the borrowed money would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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.

Related Links:

Econo Lodges of America, Inc.

Obtaining Funding - Getting Venture Capital

SBA 7A Banks for Philadelphia, Pennsylvania Loans

Pennsylvania SBA 7A Lenders