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April 29, 2024 |
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| Home > Small Business Lenders by State > Alaska Business Loan Sources > Hartford, Business Loans > Business Lenders, LLC Hartford Business Loans > Hotels And Motels Loan | ||||
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Tips for Business Owners On Getting a Loan
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Raising Money for Hotels and MotelsLooking for business loans for hotels and motels? The SBA may be the answer. This $340,000 hotels and motels loan was issued by a Connecticut bank. This small business knew how to go about getting a business bank loan. Based in Seward, Alaska, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Business Lenders, LLC, based in Hartford, Connecticut. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BUSINESS LENDERS, LLC SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. 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 11/18/2003 Loan Approval Gross Amount $340,000 Loan Approval from the SBA Of the total $340,000 loan amount, the SBA guaranteed $255,000. 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 4 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $340,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: A Company That Helps Entrepreneurs Good Banks for Small Business in Hartford, Connecticut Getting an SBA Loan in Connecticut
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