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May 17, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Hotels And Motels Loan | ||||
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New York, New York SBA 7A Banks
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New York, New York Bank Lends Money to Hotels And Motels Company in Madison Heights, VirginiaWant to talk with a New York, New York bank about an SBA loan? Here's one Virginia business loan, issued by a New York bank, that was approved by the SBA. Applying for an SBA loan with Newtek Small Business Finance Inc. worked out well for our friends at one local business in Madison Heights, Virginia. They received an SBA loan for $720,000. Awesome! SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to American small businesses. 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 2/23/2001 Loan Approval Gross Amount $720,000 Loan Approval from the SBA Of the total $720,000 loan amount, the SBA guaranteed $540,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA 7A Lenders in New York, New York
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