Alabama Entrepreneur Secures Financing to Buy Days Inn Franchise

Need money to invest in a Days Inn franchise? Peoplesouth Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Days Inn franchise shouldn't be too tough. In 2002, Peoplesouth Bank issued an SBA franchise loan to an entrepreneur in Eufaula, 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 MOTEL
EUFAULA, AL 36027

SBA Loan Lender

PEOPLESOUTH BANK
1245 S EUFAULA AVE
EUFAULA, AL 36027

This business loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/9/2002

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

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 8 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Peoplesouth Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

Business Line of Credit

Small Bank Loans in Eufaula, Alabama

Getting a Business Loan in Alabama