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November 21, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Hotels And Motels Loan | ||||
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Raising Money in Arundel, Maine With SBA Loans
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Loans for Hotels and MotelsWith these loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $125,000 was given to a Maine entrepreneur in 2000. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Arundel, Maine was able to borrow $125,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $93,750 of this Maine small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BUSINESS LOAN CENTER, LLC This debt financing 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 9/5/2000 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. 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 only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Business Loan Center, LLC 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: Obtaining Funding - Getting Venture Capital
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