Loan to Buy Ramada Inn Franchise Issued By Citicapital Small Business Finance

Need money to invest in a Ramada Inn franchise? Citicapital Small Business Finance has a history of making these loans and they are guaranteed by the SBA.

If you live near Austin, Texas and are interested in buying a Ramada Inn franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Citicapital Small Business Finance. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RAMADA LIMITED AIRPORT SOUTH
2915 INTERSTATE HIGHWAY 35 S
AUSTIN, TX 78741

SBA Loan Lender

CITICAPITAL SMALL BUSINESS FINANCE
250 E CARPENTER FRWY, STE 115
IRVING, TX 75062

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels (except Casino Hotels) and Motels

Loan Approval Date

6/18/2001

Loan Approval Gross Amount

$1,850,000

Loan Approval from the SBA

Of the total $1,850,000 loan amount, the SBA guaranteed $999,999.

More Information on This SBA Loan

The borrower, Ramada Limited Airport South, 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 15 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citicapital Small Business Finance are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Ramada Franchise Systems, Inc.

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Best Banks for Small Business in Irving, Texas

Getting an SBA Loan in Texas

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