Borrow Money to Buy a 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 shouldn't be too tough. In 2004, Community So. Bank D.B.A Commun issued an SBA franchise loan to an entrepreneur in Sharonville, Ohio. Because Ramada Inn was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

TRAVELODGE
SHARONVILLE, OH 45241

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending background and a deep knowledge SBA loan requirements.

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

5/27/2004

Loan Approval Gross Amount

$1,725,000

Loan Approval from the SBA

Of the total $1,725,000 loan amount, the SBA guaranteed $1,293,750.

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 14 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community So. Bank D.B.A Commun and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

Family and Friend Investors - Your First Financiers

SBA Participating Banks in Knoxville, Tennessee

Getting a Business Loan in Tennessee