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May 2, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Hotels And Motels Loan | ||||
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We Needed a Small Business Loan in Abilene, Texas and We Got One!
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Business Loans for Hotels and MotelsLooking for business loans for hotels and motels? An SBA loan may be just what you've been looking for. This $1,600,000 hotels and motels loan was issued by a Virginia bank. This small business knew how to go about getting a business bank loan. Based in Abilene, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Business Loan Center, LLC, based in Richmond, Virginia. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BUSINESS LOAN CENTER, LLC As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 11/22/2002 Loan Approval Gross Amount $1,600,000 Loan Approval from the SBA Of the total $1,600,000 loan amount, the SBA guaranteed $1,000,000. 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 121 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 13 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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. Related Links: Obtaining Funding - Friends and Family SBA Participating Banks in Richmond, Virginia
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