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April 29, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > El Reno, Business Loans > The Bank Of Union El Reno Business Loans > Hotels And Motels Loan | ||||
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Business Loans for Oklahoma City Small Business Owners
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Raising Money for Hotels and MotelsLooking for bank loans for hotels and motels? Talk to a banker who works with the SBA. This $995,000 hotels and motels loan was issued by an Oklahoma bank. Getting a small business loan in Oklahoma City, Oklahoma was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Bank Of Union, operating out of El Reno, Oklahoma. Here are the details on this Oklahoma small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender THE BANK OF UNION 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 4/18/2002 Loan Approval Gross Amount $995,000 Loan Approval from the SBA Of the total $995,000 loan amount, the SBA guaranteed $746,250. 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 3 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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 firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 Banks in El Reno, Oklahoma
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