How to Get a Loan for Hotels and Motels

Looking for commercial loans for hotels and motels? Talk to a banker who works with the SBA. This $2,278,000 hotels and motels loan was issued by an Utah bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Greenville, Ohio was able to borrow $2,278,000 from Merrill Lynch Bank Usa. The SBA made the loan possible by guaranteeing $749,985 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
GREENVILLE, OH 45331

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

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

2/15/2000

Loan Approval Gross Amount

$2,278,000

Loan Approval from the SBA

Of the total $2,278,000 loan amount, the SBA guaranteed $749,985.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 42 employees. This SBA loan request indicated that the loan would help generate 42 new jobs and retain 42 existing jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

We've showcased information on this loan to let you know that businesses like yours 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.

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