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May 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Hotels And Motels Loan | ||||
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SBA Lenders in Ohio
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Small Business Loan Source LLC SBA Loan to Hotels And Motels CompanySmall Business Loan Source LLC has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Portsmouth, Ohio, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Small Business Loan Source LLC, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 11/12/2002 Loan Approval Gross Amount $463,000 Loan Approval from the SBA Of the total $463,000 loan amount, the SBA guaranteed $347,250. 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 did not indicate that the business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 for Small Business in Houston, Texas
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