Borrow Money to Buy a Ramada Inn Franchise

Need a loan to buy a Ramada Inn franchise? Provident Bank Of Maryland has a history of making these loans and they are guaranteed by the SBA.

Ramada Inn franchise loans are available to Richmond, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Provident Bank Of Maryland, based in Warrenton, Virginia, issued an SBA franchise loan for a Ramada Inn franchise in 2000. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

RAMADA INN AND TRAVELODGE
RICHMOND, VA 23227

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

9/12/2000

Loan Approval Gross Amount

$365,000

Loan Approval from the SBA

Of the total $365,000 loan amount, the SBA guaranteed $273,750.

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 25 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Provident Bank Of Maryland 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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Banks in Warrenton, Virginia

SBA Lenders in Virginia