Borrow Money to Buy a Travelodge Franchise

Need a loan to invest in a Travelodge franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Travelodge franchise shouldn't be too tough. In 2001, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Portland, Oregon. Because Travelodge was registered with the SBA's registry of franchises, this Oregon small business loan was issued on an expedited basis.

SBA Loan Borrower

PORTLAND THRIFTLODGE
PORTLAND, OR 97214

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/5/2001

Loan Approval Gross Amount

$845,000

Loan Approval from the SBA

Of the total $845,000 loan amount, the SBA guaranteed $633,750.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find other ways to get money to start a business, 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:

Travelodge Hotels, Inc.

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in Livingston, New Jersey

New Jersey SBA Banks