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April 26, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Ramada Inn-Whitehall Michigan Loan | ||||
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Tips for Borrowing Money to Buy a Franchise
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Ge Cap. Small Business Finan Corp Provides SBA Loan to Buy Ramada Inn FranchiseNeed money to buy a Ramada Inn franchise? Ge Cap. Small Business Finan Corp has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Grand Rapids, Michigan needed money to invest in a Ramada Inn franchise back in 2000. Ge Cap. Small Business Finan Corp issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower RAMADA INN-WHITEHALL MICHIGAN SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP 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. SIC Code 7011 - Hotels and Motels Loan Approval Date 4/20/2000 Loan Approval Gross Amount $2,131,000 Loan Approval from the SBA Of the total $2,131,000 loan amount, the SBA guaranteed $749,898. 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 21 employees. The SBA loan documents indicated that the loan would help retain 21 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Grand Rapids 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. Related Links: Ramada Franchise Systems, Inc. Borrowing Money from Friends and Family SBA 7A Lenders in St. Louis, Missouri
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