Where to Get Capital for Hotels and Motels

Looking for small business loans for hotels and motels? The SBA may be the answer. This $745,000 hotels and motels loan was issued by a Florida bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Apalachicola, Florida was able to borrow $745,000 from Coastal Community Bank. The SBA made the loan possible by guaranteeing $558,750 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
APALACHICOLA, FL 32320

SBA Loan Lender

COASTAL COMMUNITY BANK
12141 PANAMA CITY BEACH PKWY
PANAMA CITY, FL 32407

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

4/18/2001

Loan Approval Gross Amount

$745,000

Loan Approval from the SBA

Of the total $745,000 loan amount, the SBA guaranteed $558,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Coastal Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Coastal Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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