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November 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Hotels And Motels Loan | ||||
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SBA 7A Banks in Michigan
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Getting an SBA Loan for Hotels and MotelsLooking for commercial loans for hotels and motels? The SBA may be the answer. This $1,323,000 hotels and motels loan was issued by a Texas bank. This business knew how to go about getting a business bank loan. Based in Allegan, Michigan, they applied for and were awarded 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 SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/24/2002 Loan Approval Gross Amount $1,323,000 Loan Approval from the SBA Of the total $1,323,000 loan amount, the SBA guaranteed $992,250. 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 6 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you have been wondering how do i get money to start a business in Allegan MI, you ought to talk with a local Allegan SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Allegan businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,323,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Raising VC Money for Social Networking Companies Best Banks for Small Business in Houston, Texas Getting a Business Loan in Texas
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