Loan to Buy Ramada Inn Franchise Issued By Washington Mutual Bank

Need a loan to invest in a Ramada Inn franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ramada Inn franchise is doable. In 2000, Washington Mutual Bank issued an SBA franchise loan to an entrepreneur in Gilmer, Texas. Because Ramada Inn was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

RAMADA LIMITED
GILMER, TX 75644

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

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

3/31/2000

Loan Approval Gross Amount

$1,180,000

Loan Approval from the SBA

Of the total $1,180,000 loan amount, the SBA guaranteed $804,535.

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 8 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Washington Mutual 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:

Ramada Franchise Systems, Inc.

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SBA Participating Banks in Henderson, Nevada

SBA Participating Banks in Nevada