Mississippi Entrepreneur Secures Financing to Buy Ramada Inn Franchise

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

Ramada Inn franchise loans are available to Gulfport, Mississippi entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Borrego Springs Bank, based in Borrego Springs, California, issued an SBA franchise loan for a Ramada Inn franchise in 2002. We've got all the details on this Mississippi small business loan.

SBA Loan Borrower

RAMADA LIMITED GULFPORT
GULFPORT, MS 39507

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and are well trained in SBA lending rules and regulations.

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

9/24/2002

Loan Approval Gross Amount

$1,105,000

Loan Approval from the SBA

Of the total $1,105,000 loan amount, the SBA guaranteed $828,750.

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 9 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Borrego Springs Bank and they will explain how you can get an SBA loan for your company.

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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