Commercial Loans for Bed-and-Breakfast Inns

With these commercial loans for bed-and-breakfast inns, the SBA guarantees the lender that the loan will be repaid. This bed-and-breakfast inns loan for $360,000 was given to a Michigan entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $360,000 to help grow their Kalamazoo, Michigan business.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
KALAMAZOO, MI 49006

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

This commercial 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

721191 - Bed-and-Breakfast Inns

Loan Approval Date

3/31/2005

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank 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 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:

How Equity Dilution Works

SBA Banks in Grand Rapids, Michigan

Where to Get an SBA Loan Michigan