Alabama Entrepreneur Secures Financing to Buy Days Inn Franchise
Borrowing money to purchase a Days Inn franchise? Excel National 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 2006 SBA franchise loan that you should know about. Excel National Bank was the lender and the entrepreneur was based in Montgomery, Alabama.
SBA Loan Borrower
DAYS INN
MONTGOMERY, AL 36105
SBA Loan Lender
EXCEL NATIONAL BANK
9701 WILSHIRE BLVD
BEVERLY HILLS, CA 90212
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
12/7/2006
Loan Approval Gross Amount
$2,000,000
Loan Approval from the SBA
Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.
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 21 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
We can help you find the best banks for small businesses in Montgomery or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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.
The Art of Bootstrapping
SBA Approved Banks in Beverly Hills, California
California SBA 7A Lenders