Getting an SBA Loan for Hotels and Motels

With these business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $411,000 was given to a Vermont entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in Barre, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Td Banknorth, based in Brattleboro, Vermont.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BARRE, VT 05641

SBA Loan Lender

TD BANKNORTH
215 MAIN ST
BRATTLEBORO, VT 05301

This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

3/27/2000

Loan Approval Gross Amount

$411,000

Loan Approval from the SBA

Of the total $411,000 loan amount, the SBA guaranteed $308,250.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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 Bank Loans in Brattleboro, Vermont

SBA Participating Banks in Vermont