Loan to Buy Days Inn Franchise Issued By Peoples National Bank

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

Want to borrow money to buy a Days Inn franchise? If so, here's a 2002 SBA franchise loan that you should know about. Peoples National Bank was the lender and the entrepreneur was based in Carbondale, Illinois.

SBA Loan Borrower

VAISHANAVI, INC.
CARBONDALE, IL 62901

SBA Loan Lender

PEOPLES NATIONAL BANK
445 N COMMERCIAL ST
HARRISBURG, IL 62946

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/5/2002

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 6 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours 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.

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