Loan Census Banking News and Information
January 29, 2023  
 
 
  Business Loan Information  
 

I Need Commercial Loans to Buy a Franchise in Lafayette, Louisiana

 

 
Loan Census SBA Loan Info

Borrow Money to Buy an Econo Lodge Motel Franchise

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

If you live near Lafayette, Louisiana and are interested in buying an Econo Lodge Motel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Gulf Coast Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MASON HOTELS LLC
LAFAYETTE, LA 70501

SBA Loan Lender

GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510

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

8/1/2005

Loan Approval Gross Amount

$1,525,000

Loan Approval from the SBA

Of the total $1,525,000 loan amount, the SBA guaranteed $1,143,750.

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 80 employees. The SBA loan application for the borrower indicated that the funding would help generate 80 new jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Gulf Coast 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:

Econo Lodges of America, Inc.

Attracting Investors

Small Business Banks in Abbeville, Louisiana

Louisiana SBA 7A Lenders