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April 28, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Econolodge Of Chattanooga, Tn Loan | ||||
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Banks for Chattanooga, Tennessee Small Business Owners
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Tennessee Entrepreneur Secures Financing to Buy Econo Lodge Motel FranchiseBorrowing money to invest in an Econo Lodge Motel franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Chattanooga, Tennessee needed money to invest in an Econo Lodge Motel franchise back in 2002. Branch Bank & Trust issued an SBA franchise loan. Here are the details on this Tennessee small business loan. SBA Loan Borrower ECONOLODGE OF CHATTANOOGA, TN SBA Loan Lender BRANCH BANK & TRUST This loan for a small business was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications. 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 8/29/2002 Loan Approval Gross Amount $1,195,000 Loan Approval from the SBA Of the total $1,195,000 loan amount, the SBA guaranteed $896,250. 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 14 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Branch Bank & Trust and they will explain how you can get an SBA loan for your company. 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: SBA 7A Banks for Winston Salem, North Carolina Loans
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