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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Ramada Inn Loan | ||||
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How Can I Buy a Franchise in Richmond, Virginia?
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Temecula Valley Bank Provides SBA Loan to Buy Ramada Inn FranchiseBorrowing money to invest in a Ramada Inn franchise? Temecula Valley Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Ramada Inn franchise? If so, here's a 2002 SBA franchise loan that you should know about. Temecula Valley Bank was the lender and the entrepreneur was based in Richmond, Virginia. SBA Loan Borrower RAMADA INN SBA Loan Lender TEMECULA VALLEY BANK 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 10/2/2002 Loan Approval Gross Amount $1,060,000 Loan Approval from the SBA Of the total $1,060,000 loan amount, the SBA guaranteed $795,000. 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 30 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Temecula Valley Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Who Lends Money to Small Businesses in Temecula, California
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