Loan to Buy Ramada Inn Franchise Issued By The Huntington National Bank

Need a loan to purchase a Ramada Inn franchise? The Huntington National 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 2002 SBA franchise loan that you should know about. The Huntington National Bank was the lender and the entrepreneur was based in Fort Wayne, Indiana.

SBA Loan Borrower

RAMADA LIMITED
FORT WAYNE, IN 46808

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
220 MARKET AVE SOUTH, UNITED
CANTON, OH 44702

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

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

8/14/2002

Loan Approval Gross Amount

$613,000

Loan Approval from the SBA

Of the total $613,000 loan amount, the SBA guaranteed $373,331.

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 8 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Ramada Franchise Systems, Inc.

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Where to Get an SBA Loan in Canton, Ohio

Getting an SBA Loan in Ohio