Commerce Bank Provides SBA Loan to Buy Days Inn Franchise

Borrowing money to purchase a Days Inn franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Days Inn franchise loans are available to Wurstboro, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Commerce Bank, based in Flemington, New Jersey, issued an SBA franchise loan for a Days Inn franchise in 2007. We've got all the details on this New York small business loan.

SBA Loan Borrower

MAHINRAHI, LLC
Wurstboro, NY 12790

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

1/18/2007

Loan Approval Gross Amount

$1,380,000

Loan Approval from the SBA

Of the total $1,380,000 loan amount, the SBA guaranteed $1,035,000.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 1 existing job.

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commerce Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

Obtaining Funding - How to Borrow Money

SBA 7A Banks for Flemington, New Jersey Loans

SBA Lenders in New Jersey