Lancaster, PA Entrepreneur Gets SBA Loan to Buy Rodeway Inns Franchise

Borrowing money to purchase a Rodeway Inns franchise? Unity Bank has a history of making these loans and they are guaranteed by the SBA.

Rodeway Inns franchise loans are available to Lancaster, Pennsylvania entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Unity Bank, based in Clinton, New Jersey, issued an SBA franchise loan for a Rodeway Inns franchise in 2007. We've got all the details on this Pennsylvania small business loan.

SBA Loan Borrower

NBA HOTEL , LLC D/B/A RODEWAY INN ITALI
Lancaster, PA 17602

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

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

10/3/2007

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Rodeway Inns franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Rodeway Inns

Small Business Credit Cards

Good Banks for Small Business in Clinton, New Jersey

New Jersey SBA Banks