Hotels and Motels Business Loans
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 $240,000 was given to a Connecticut entrepreneur in 2000.
This small business knew how to go about getting a business bank loan. Based in Berlin, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
BERLIN, CT 06037
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
11/22/2000
Loan Approval Gross Amount
$240,000
Loan Approval from the SBA
Of the total $240,000 loan amount, the SBA guaranteed $180,000.
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 loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs.
Start the Process for Getting an SBA Loan Today!
If you need money to start business in Berlin CT, you ought to talk with a local Berlin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Berlin businesses.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cit Small Business Lending Corp 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.
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