American Enterprise Bank Provides SBA Loan to Buy Days Inn Franchise

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

If you live near Portage, Indiana and are interested in buying a Days Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by American Enterprise Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

DAYS INN - PORTAGE
PORTAGE, IN 46368

SBA Loan Lender

AMERICAN ENTERPRISE BANK
600 N BUFFALO GROVE RD
BUFFALO GROVE, IL 60089

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to American small businesses.

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

2/27/2002

Loan Approval Gross Amount

$770,213

Loan Approval from the SBA

Of the total $770,213 loan amount, the SBA guaranteed $577,660.

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 18 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from American Enterprise Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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