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May 2, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Mirae Bank Los Angeles Business Loans > Travelodge Loan | ||||
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California Small Business Funding for Franchises
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Borrow Money to Buy a Travelodge FranchiseBorrowing money to buy a Travelodge franchise? Mirae 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 2006, Mirae Bank issued an SBA franchise loan to an entrepreneur in San Diego, California. Because Travelodge was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis. SBA Loan Borrower TRAVELODGE SBA Loan Lender MIRAE BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial 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 4/27/2006 Loan Approval Gross Amount $1,680,000 Loan Approval from the SBA Of the total $1,680,000 loan amount, the SBA guaranteed $1,260,000. 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 13 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Mirae Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Obtaining Funding From a Venture Capitalist SBA 7A Banks in Los Angeles, California Browse All Business Loan Sources for California
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