Heritage Bank Of Commerce Provides SBA Loan to Buy Ramada Inn Franchise

Need a loan to invest in a Ramada Inn franchise? Heritage Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA.

If you live near Eureka, California and are interested in buying a Ramada Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Heritage Bank Of Commerce. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RAMADA LIMITED
EUREKA, CA 95501

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

5/9/2003

Loan Approval Gross Amount

$1,225,000

Loan Approval from the SBA

Of the total $1,225,000 loan amount, the SBA guaranteed $918,750.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

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

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,225,000 loan. Remember, if it to be, it is up to me!

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.

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