Arizona Entrepreneur Secures Financing to Buy Travelodge Franchise

Need money to invest in a Travelodge franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Travelodge franchise is doable. In 2001, Comerica Bank issued an SBA franchise loan to an entrepreneur in Yuma, Arizona. Because Travelodge was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis.

SBA Loan Borrower

TRAVELODGE
YUMA, AZ 85364

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This lender provides SBA 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

10/12/2001

Loan Approval Gross Amount

$841,000

Loan Approval from the SBA

Of the total $841,000 loan amount, the SBA guaranteed $630,750.

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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Travelodge Hotels, Inc.

Getting a Small Business Loan

Best Banks for Small Business in Dallas, Texas

SBA Participating Banks in Texas