Get an SBA Loan for Hotels and Motels

Looking for small business loans for hotels and motels? An SBA loan may be just what you've been looking for. This $1,470,000 hotels and motels loan was issued by a Tennessee bank.

This company knew how to go about getting a business bank loan. Based in Fargo, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Citizens Bank, based in Elizabethton, Tennessee.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
FARGO, ND 58103

SBA Loan Lender

CITIZENS BANK
300 BROAD ST
ELIZABETHTON, TN 37643

This commercial loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA delivers a rapid loan approval or denial response.

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

8/4/2005

Loan Approval Gross Amount

$1,470,000

Loan Approval from the SBA

Of the total $1,470,000 loan amount, the SBA guaranteed $1,102,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 16 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citizens Bank and they will explain how you can get an SBA loan for your company.

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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