Clovis, NM Entrepreneur Gets SBA Loan to Buy Choice Hotels International Inc. Franchise

Need money to purchase a Choice Hotels International Inc. franchise? Western Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Choice Hotels International Inc. franchise? If so, here's a 2006 SBA franchise loan that you should know about. Western Commerce Bank was the lender and the entrepreneur was based in Clovis, New Mexico.

SBA Loan Borrower

ECONO LODGE
CLOVIS, NM 88101

SBA Loan Lender

WESTERN COMMERCE BANK
127 S CANYON ST
CARLSBAD, NM 88220

This lender provides SBA business 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

8/23/2006

Loan Approval Gross Amount

$1,232,500

Loan Approval from the SBA

Of the total $1,232,500 loan amount, the SBA guaranteed $924,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Choice Hotels International Inc. franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $1,232,500. How would you spend $1,232,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Choice Hotels International, Inc.

Choice Hotels

Alternative Financing

SBA 7A Banks in Carlsbad, New Mexico

New Mexico SBA Banks