Texas Entrepreneur Secures Financing to Buy Ramada Inn Franchise

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

An entrepreneur in Plano, Texas needed money to invest in a Ramada Inn franchise back in 2006. Temecula Valley Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

RAMADA LIMITED
PLANO, TX 75047

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/10/2006

Loan Approval Gross Amount

$1,515,000

Loan Approval from the SBA

Of the total $1,515,000 loan amount, the SBA guaranteed $1,136,250.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Temecula Valley Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Temecula Valley Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

Determining Proper Capital Structure for a Business

Small Bank Loans in Temecula, California

SBA California Banks