Gainesville, GA Entrepreneur Gets SBA Loan to Buy Ramada Inn Franchise

Need a loan to buy a Ramada Inn franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA.

If you live near Gainesville, Georgia and are interested in buying a Ramada Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Business Loan Center, LLC. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RAMADA OF GAINESVILLE GA
GAINESVILLE, GA 30501

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/4/2004

Loan Approval Gross Amount

$999,600

Loan Approval from the SBA

Of the total $999,600 loan amount, the SBA guaranteed $749,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Ramada Inn franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $999,600. How would you spend $999,600 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

How to Raise Money

SBA 7A Lenders in New York, New York

Browse All Business Loan Sources for New York