Borrow Money to Buy a Days Inn Franchise

Need money to purchase a Days Inn franchise? Communityone 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 2000 SBA franchise loan that you should know about. Communityone Bank was the lender and the entrepreneur was based in Eden, North Carolina.

SBA Loan Borrower

DAYS INN
EDEN, NC 27288

SBA Loan Lender

COMMUNITYONE BANK
1128 S MAIN ST
GRAHAM, NC 27253

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

12/29/2000

Loan Approval Gross Amount

$903,706

Loan Approval from the SBA

Of the total $903,706 loan amount, the SBA guaranteed $677,779.

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 25 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Communityone Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

Family and Friend Investors - Your First Financiers

Small Business Banks in Graham, North Carolina

Getting an SBA Loan in North Carolina