Loan to Buy Ramada Inn Franchise Issued By Peoples First Community Bank

Need money to invest in a Ramada Inn franchise? Peoples First Community Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Marianna, Florida and are interested in buying a Ramada Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Peoples First Community Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RAMADA LIMITED
MARIANNA, FL 32448

SBA Loan Lender

PEOPLES FIRST COMMUNITY BANK
2900 N JEFFERSON ST
MARIANNA, FL 32446

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/30/2003

Loan Approval Gross Amount

$1,240,000

Loan Approval from the SBA

Of the total $1,240,000 loan amount, the SBA guaranteed $930,000.

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 11 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in Marianna or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

Investor Turnoffs

SBA Banks in Marianna, Florida

Florida SBA Banks