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May 5, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Denver, Business Loans > Premier Bank Denver Business Loans > Hotels And Motels Loan | ||||
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Fountain, Colorado Bank Loan
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Where to Get Capital for Hotels and MotelsLooking for small business loans for hotels and motels? Try the SBA. This $60,000 hotels and motels loan was issued by a Colorado bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fountain, Colorado was able to borrow $60,000 from Premier Bank. The SBA made the loan possible by guaranteeing $51,000 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender PREMIER BANK 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 6/14/2001 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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