Borrow Money to Buy a Ramada Inn Franchise

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

An entrepreneur in Salisbury, North Carolina needed money to invest in a Ramada Inn franchise back in 2007. Metro City Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

TRAVELODGE
SALISBURY, NC 28146

SBA Loan Lender

METRO CITY BANK
5441 BUFORD HWY
DORAVILLE, GA 30340

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/28/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 15 employees. The loan application indicated that the loan would help retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Salisbury NC, you ought to talk with a local Salisbury SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Salisbury businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Metro City Bank 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.

Microlending as a Small Business Funding Source

SBA 7A Lenders in Doraville, Georgia

Getting an SBA Loan in Georgia