South Carolina Entrepreneur Secures Financing to Buy Ramada Inn Franchise

Need a loan to buy a Ramada Inn franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ramada Inn franchise is doable. In 2007, Community So. Bank D.B.A Commun issued an SBA franchise loan to an entrepreneur in Santee, South Carolina. Because Ramada Inn was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

RAMADA INN
SANTEE, SC 29142

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/27/2007

Loan Approval Gross Amount

$1,950,000

Loan Approval from the SBA

Of the total $1,950,000 loan amount, the SBA guaranteed $1,462,500.

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 16 employees. The SBA loan documents indicated that the loan would help retain 16 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Santee 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.

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Ramada Franchise Systems, Inc.

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SBA 7A Banks in Parsons, Tennessee

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