Loan Census Banking News and Information
July 24, 2024  
 
 
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Spokane, Washington Bank Loan

 

 
Loan Census SBA Loan Info

Pacific City Bank Provides SBA Loan to Buy Ramada Inn Franchise

Borrowing money to invest in a Ramada Inn franchise? Pacific City Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Ramada Inn franchise? If so, here's a 2007 SBA franchise loan that you should know about. Pacific City Bank was the lender and the entrepreneur was based in Spokane, Washington.

SBA Loan Borrower

JAE YUN HWANG & HAK SOOK HWANG
Spokane, WA 99201

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

1/12/2007

Loan Approval Gross Amount

$1,690,000

Loan Approval from the SBA

Of the total $1,690,000 loan amount, the SBA guaranteed $1,267,500.

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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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