Hotels and Motels Small Business Loans
With these small business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $270,700 was given to an Alabama entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Arab, Alabama was able to borrow $270,700 from Superior Bank. The SBA made the loan possible by guaranteeing $203,025 of this Alabama small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
ARAB, AL 35016
SBA Loan Lender
608 2ND AVE EAST
ONEONTA, AL 35121
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
7011 - Hotels and Motels
721110 - Hotels and Motels
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $270,700 loan amount, the SBA guaranteed $203,025.
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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
We can help you find the best banks for small businesses in Arab or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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.
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