Indiana Entrepreneur Secures Financing to Buy Amerihost Inn Franchise

Need a loan to buy an Amerihost Inn franchise? First Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Amerihost Inn franchise may simply require a phone call to a local SBA banker. In 2004, First Bank issued an SBA franchise loan to an entrepreneur in Huntington, Indiana. Because Amerihost Inn was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

AMERIHOST INN & SUITES
HUNTINGTON, IN 46750

SBA Loan Lender

FIRST BANK
11481 OLIVE BLVD
CREVE COEUR, MO 63141

This business 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

5/18/2004

Loan Approval Gross Amount

$1,765,000

Loan Approval from the SBA

Of the total $1,765,000 loan amount, the SBA guaranteed $1,323,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Amerihost Inn franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the business planned 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 make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,765,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Americlean Dry Cleaning

Choosing VC Firms

Banks in Creve Coeur, Missouri

Missouri SBA Bank Lenders