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April 24, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Knoxville, Business Loans > Community So. Bank D.B.A Commun Knoxville Business Loans > Ramada Inn Loan | ||||
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Wytheville, Virginia Bank Loan
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Wytheville, VA Entrepreneur Gets SBA Loan to Buy Ramada Inn FranchiseBorrowing money to invest in 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. Want to borrow money to buy a Ramada Inn franchise? If so, here's a 2004 SBA franchise loan that you should know about. Community So. Bank D.B.A Commun was the lender and the entrepreneur was based in Wytheville, Virginia. SBA Loan Borrower RAMADA INN SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program. 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 8/19/2004 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 63 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $2,000,000. How would you spend $2,000,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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. How Much Venture Capital Is There? SBA 7A Lenders in Knoxville, Tennessee
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