SBA Loan from American National Bank Helps Hotels And Motels Company

American National Bank has a track record as a leading provider of SBA loans. Find out how this Wyoming entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Buffalo, Wyoming, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was American National Bank, based in Buffalo, Wyoming.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BUFFALO, WY 82834

SBA Loan Lender

AMERICAN NATIONAL BANK
99 S MAIN
BUFFALO, WY 82834

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

2/3/2003

Loan Approval Gross Amount

$29,400

Loan Approval from the SBA

Of the total $29,400 loan amount, the SBA guaranteed $24,990.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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