Alabama Entrepreneur Secures Financing to Buy Days Inn Franchise

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

Getting money to buy a Days Inn franchise is doable. In 2005, Unity Bank issued an SBA franchise loan to an entrepreneur in Childresburg, Alabama. Because Days Inn was registered with the SBA's registry of franchises, this Alabama small business loan was issued on an expedited basis.

SBA Loan Borrower

DAYS INN
CHILDRESBURG, AL 35044

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/30/2005

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 a new business. This loan was used to buy a Days Inn franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Unity Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

Small Business Loan

SBA Participating Banks in Clinton, New Jersey

Getting a Business Loan in New Jersey