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May 9, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Devon, Business Loans > Commerce Bank Devon Business Loans > Hotels And Motels Loan | ||||
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North Wales, Pennsylvania Bank Loan
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Getting an SBA Loan for Hotels and MotelsLooking for commercial loans for hotels and motels? Try the SBA. This $2,000,000 hotels and motels loan was issued by a Pennsylvania bank. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Commerce Bank, out of Devon, Pennsylvania. The loan was granted and they received $2,000,000 to help grow their North Wales, Pennsylvania business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender COMMERCE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 12/18/2003 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,000,000. 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 85 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 95 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. We can help you find the best banks for small businesses in North Wales or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Banks in Devon, Pennsylvania
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