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March 29, 2024  
 
 
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Loan Census SBA Loan Info

Los Angeles, CA Entrepreneur Gets SBA Loan to Buy Econo Lodge Motel Franchise

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

An entrepreneur in Los Angeles, California needed money to invest in an Econo Lodge Motel franchise back in 2004. Premier Comm. Bank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

ECONO LODGE CULVER CITY
LOS ANGELES, CA 90066

SBA Loan Lender

PREMIER COMM. BANK
2400 E KATELLA AVE, STE 125
ANAHEIM, CA 92806

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

5/18/2004

Loan Approval Gross Amount

$1,540,000

Loan Approval from the SBA

Of the total $1,540,000 loan amount, the SBA guaranteed $1,155,000.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,540,000 loan. Remember, if it to be, it is up to me!

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.

SBIR Funding

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