Loans for Hotels and Motels

Looking for loans for hotels and motels? An SBA loan may be just what you've been looking for. This $218,000 hotels and motels loan was issued by a Minnesota bank.

This small firm knew how to go about getting a business bank loan. Based in Battle Lake, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was 1st National Bank - Battle Lake, based in Battle Lake, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BATTLE LAKE, MN 56515

SBA Loan Lender

1ST NATIONAL BANK - BATTLE LAKE
101 LAKE AVE SOUTH
BATTLE LAKE, MN 56515

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/19/2003

Loan Approval Gross Amount

$218,000

Loan Approval from the SBA

Of the total $218,000 loan amount, the SBA guaranteed $163,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Small Business Loan

Best Banks for Small Business in Battle Lake, Minnesota

SBA Minnesota Lenders