United Midwest Savings Bank Provides SBA Loan to Buy Days Inn Franchise

Need money to buy a Days Inn franchise? United Midwest Savings Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Imlay City, Michigan needed money to invest in a Days Inn franchise back in 2001. United Midwest Savings Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

DAYS INN OF IMLAY CITY
IMLAY CITY, MI 48444

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

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

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/5/2001

Loan Approval Gross Amount

$1,333,000

Loan Approval from the SBA

Of the total $1,333,000 loan amount, the SBA guaranteed $999,750.

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 10 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like United Midwest Savings 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.

Getting a Small Business Loan

Where to Get an SBA Loan in De Graff, Ohio

Getting a Business Loan in Ohio