Indianapolis, IN Entrepreneur Gets SBA Loan to Buy Ramada Inn Franchise

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

Getting money to buy a Ramada Inn franchise requires some effort but others before you have been successful. In 2004, Temecula Valley Bank issued an SBA franchise loan to an entrepreneur in Indianapolis, Indiana. Because Ramada Inn was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

RAMADA LTD.
INDIANAPOLIS, IN 46254

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

7/23/2004

Loan Approval Gross Amount

$1,640,000

Loan Approval from the SBA

Of the total $1,640,000 loan amount, the SBA guaranteed $1,230,000.

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 18 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

Business Line of Credit

Where to Get an SBA Loan in Temecula, California

California SBA 7A Lenders