Meadville, PA Entrepreneur Gets SBA Loan to Buy Days Inn Franchise

Borrowing money to invest in a Days Inn franchise? Unity 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 2002 SBA franchise loan that you should know about. Unity Bank was the lender and the entrepreneur was based in Meadville, Pennsylvania.

SBA Loan Borrower

DAYS INN MEADVILLE HOTEL & CON
MEADVILLE, PA 16335

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

This debt financing 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

12/4/2002

Loan Approval Gross Amount

$1,295,000

Loan Approval from the SBA

Of the total $1,295,000 loan amount, the SBA guaranteed $971,250.

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 35 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 $1,295,000 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:

Days Inn Worldwide Inc.

Equity Financing

Where to Get an SBA Loan in Clinton, New Jersey

SBA New Jersey Lenders