Texas Entrepreneur Secures Financing to Buy Days Inn Franchise

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

If you live near El Paso, Texas and are interested in buying a Days Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by The First National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

DAYS INN
EL PASO, TX 79932

SBA Loan Lender

THE FIRST NATIONAL BANK
303 W MAIN ST
ARTESIA, NM 88211

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

5/4/2007

Loan Approval Gross Amount

$1,687,500

Loan Approval from the SBA

Of the total $1,687,500 loan amount, the SBA guaranteed $1,265,625.

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 11 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 12 existing jobs.

Getting an SBA Loan For Your Business

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,687,500 loan. Remember, things become real when you believe you can achieve them!

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:

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SBA 7A Banks in Artesia, New Mexico

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