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May 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Warwick, Business Loans > Home Loan Invest Bank F.S.B. Warwick Business Loans > Hotels And Motels Loan | ||||
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North Dartmouth, Massachusetts Bank Loan
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Commercial Loans for Hotels and MotelsLooking for commercial loans for hotels and motels? Talk to a banker who works with the SBA. This $500,000 hotels and motels loan was issued by a Rhode Island bank. This business knew how to go about getting a business bank loan. Based in North Dartmouth, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Home Loan Invest Bank F.S.B., based in Warwick, Rhode Island. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender HOME LOAN INVEST BANK F.S.B. This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 11/14/2006 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Home Loan Invest Bank F.S.B. and they will explain how you can get an SBA loan for your company. 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: Realistic Debt Financing Options Banks in Warwick, Rhode Island
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