Yemassee, SC Entrepreneur Gets SBA Loan to Buy Days Inn Franchise

Need a loan to purchase a Days Inn franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Yemassee, South Carolina needed money to invest in a Days Inn franchise back in 2001. Comerica Bank issued an SBA franchise loan. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

DAYS INN POINT SOUTH
YEMASSEE, SC 29945

SBA Loan Lender

COMERICA BANK
1800 CORPORATE BLVD NW, STE 1
BOCA RATON, FL 33431

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/12/2001

Loan Approval Gross Amount

$1,015,000

Loan Approval from the SBA

Of the total $1,015,000 loan amount, the SBA guaranteed $761,250.

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 did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

A Company That Helps Entrepreneurs

SBA Participating Banks in Boca Raton, Florida

Getting an SBA Loan in Florida