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May 18, 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 Godfrey, 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, a Godfrey, Illinois business owner got a $900,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Godfrey, Illinois was able to borrow $900,000 from Small Business Loan Source LLC. The SBA made the loan possible by guaranteeing $675,000 of this Illinois small business loan. 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 SBA 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 12/7/2001 Loan Approval Gross Amount $900,000 Loan Approval from the SBA Of the total $900,000 loan amount, the SBA guaranteed $675,000. 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 8 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels 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. This SBA loan was for $900,000. How would you spend $900,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 7A Banks in Houston, Texas Where to Get an SBA Loan Texas
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