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May 2, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Chattanooga, Business Loans > Cornerstone Community Bank Chattanooga Business Loans > Hotels And Motels Loan | ||||
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SBA Lenders for Nashville, Tennessee Small Business Owners
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Hotels and Motels LoansLooking for loans for hotels and motels? An SBA loan may be just what you've been looking for. This $645,000 hotels and motels loan was issued by a Tennessee bank. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Cornerstone Community Bank, out of Chattanooga, Tennessee. The loan was granted and they received $645,000 to help grow their Nashville, Tennessee business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender CORNERSTONE COMMUNITY BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to our country's hard-working small business owners. 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 8/14/2003 Loan Approval Gross Amount $645,000 Loan Approval from the SBA Of the total $645,000 loan amount, the SBA guaranteed $483,750. 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 8 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. Getting an SBA Loan For Your 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 borrow money from friends and family, 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: Obtaining Funding - How to Borrow Money SBA 7A Banks in Chattanooga, Tennessee
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