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April 28, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > Econo Lodge Loan | ||||
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Raising Money in Marietta, Ohio With SBA Loans
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Marietta, OH Entrepreneur Gets SBA Loan to Buy Econo Lodge Motel FranchiseNeed a loan to invest in an Econo Lodge Motel franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA. Econo Lodge Motel franchise loans are available to Marietta, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wachovia Sba Lending, Inc., based in Roseville, California, issued an SBA franchise loan for an Econo Lodge Motel franchise in 2000. We've got all the details on this Ohio small business loan. SBA Loan Borrower ECONO LODGE SBA Loan Lender WACHOVIA SBA LENDING, INC. As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 9/11/2000 Loan Approval Gross Amount $1,100,000 Loan Approval from the SBA Of the total $1,100,000 loan amount, the SBA guaranteed $749,991. 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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, 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. 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 $1,100,000 loan. Remember, things become real when you believe you can achieve them! 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: Find an SBA Lender in Roseville, California Getting a Business Loan in California
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