Comerica Bank Provides SBA Loan to Buy Ramada Inn Franchise

Borrowing money to buy a Ramada Inn franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Ramada Inn franchise? If so, here's a 2004 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Bakersfield, California.

SBA Loan Borrower

RAMADA SUITES
BAKERSFIELD, CA 93313

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

5/21/2004

Loan Approval Gross Amount

$1,760,000

Loan Approval from the SBA

Of the total $1,760,000 loan amount, the SBA guaranteed $1,320,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ramada Inn franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 $1,760,000 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.

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