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May 6, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Hotels And Motels Loan | ||||
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Small Business Loan Source LLC Urbana, Illinois
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SBA Loan from Small Business Loan Source LLC Helps Hotels And Motels CompanyAn SBA loan from Small Business Loan Source LLC typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Urbana, Illinois business owner got a $1,020,000 loan. This business knew how to go about getting a business bank loan. Based in Urbana, Illinois, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Small Business Loan Source LLC, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial 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 3/18/2003 Loan Approval Gross Amount $1,020,000 Loan Approval from the SBA Of the total $1,020,000 loan amount, the SBA guaranteed $765,000. 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 5 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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 $1,020,000 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: Where to Get an SBA Loan in Houston, Texas
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