Loan to Buy Days Inn Franchise Issued By Hanmi Bank

Borrowing money to buy a Days Inn franchise? Hanmi Bank has a history of making these loans and they are guaranteed by the SBA.

Days Inn franchise loans are available to Anaheim, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Hanmi Bank, based in Los Angeles, California, issued an SBA franchise loan for a Days Inn franchise in 2001. We've got all the details on this California small business loan.

SBA Loan Borrower

DAYS INN SUITES AT DISNEYLAND
ANAHEIM, CA 92805

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, STE 103
LOS ANGELES, CA 90010

This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/7/2001

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Days Inn franchise. At the time of the loan, the company had 22 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Hanmi Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Days Inn Worldwide Inc.

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SBA 7A Banks in Los Angeles, California

California SBA 7A Lenders