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May 1, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Travelodge Lancaster Loan | ||||
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Business Loan Center, LLC Franchise Loans
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Loan to Buy Travelodge Franchise Issued By Business Loan Center, LLCBorrowing money to buy a Travelodge franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Lancaster, Pennsylvania needed money to invest in a Travelodge franchise back in 2002. Business Loan Center, LLC issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower TRAVELODGE LANCASTER SBA Loan Lender BUSINESS LOAN CENTER, LLC Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 2/28/2002 Loan Approval Gross Amount $333,000 Loan Approval from the SBA Of the total $333,000 loan amount, the SBA guaranteed $249,750. 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 application for the borrower indicated that the loan would help generate 12 new jobs and retain 25 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $333,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Lenders in Richmond, Virginia
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