Loan to Buy Ramada Inn Franchise Issued By Business Loan Center, LLC

Need a loan to invest in a Ramada Inn franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Spanish Fort, Alabama needed money to invest in a Ramada Inn franchise back in 2002. Business Loan Center, LLC issued an SBA franchise loan. Here are the details on this Alabama small business loan.

SBA Loan Borrower

RAMADA INN ON THE BAY
SPANISH FORT, AL 36527

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/26/2002

Loan Approval Gross Amount

$1,333,000

Loan Approval from the SBA

Of the total $1,333,000 loan amount, the SBA guaranteed $999,750.

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 loan application indicated that the loan would help generate 35 new jobs and retain 25 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,333,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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SBA 7A Banks in Richmond, Virginia

Getting a Business Loan in Virginia