Commercial Loans for Hotels and Motels

Looking for commercial loans for hotels and motels? Talk to a banker who works with the SBA. This $1,050,000 hotels and motels loan was issued by a Tennessee bank.

Getting a small business loan in Smyrna, Tennessee was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Tennessee Business & Indust Devel, operating out of Paris, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SMYRNA, TN 37167

SBA Loan Lender

TENNESSEE BUSINESS & INDUST DEVEL
1301 E. WOOD STREET, P.O. BOX
PARIS, TN 37402

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

2/13/2001

Loan Approval Gross Amount

$1,050,000

Loan Approval from the SBA

Of the total $1,050,000 loan amount, the SBA guaranteed $787,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help create 6 new jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Tennessee Business & Indust Devel that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

SBIR Funding

Small Business Banks in Paris, Tennessee

SBA Tennessee Banks