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May 9, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Hotels And Motels Loan | ||||
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Raising Money in Miami Beach, Florida With SBA Loans
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Hotels and Motels Bank LoansLooking for bank loans for hotels and motels? The SBA may be the answer. This $878,400 hotels and motels loan was issued by a New York bank. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Business Loan Center, LLC, out of New York, New York. The loan was granted and they received $878,400 to help grow their Miami Beach, Florida business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BUSINESS LOAN CENTER, 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 1/9/2003 Loan Approval Gross Amount $878,400 Loan Approval from the SBA Of the total $878,400 loan amount, the SBA guaranteed $618,104. 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 8 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Business Loan Center, LLC and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: A Company That Helps Entrepreneurs Who Lends Money to Small Businesses in New York, New York Where to Get an SBA Loan New York
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