Alaska Growth Cap. Bidco Inc. Gives SBA Loan to Hotels And Motels Company

Want an Alaska business loan? This Alaska entrepreneur got a business loan, provided by an Alaska bank that works with the SBA to help small business owners.

This small business, based in Bettles, Alaska, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Alaska Growth Cap. Bidco Inc.. We've got the inside scoop on this Alaska small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BETTLES, AK 99726

SBA Loan Lender

ALASKA GROWTH CAP. BIDCO INC.
3900 C STREET, SUITE 302
ANCHORAGE, AK 99503

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

4/27/2000

Loan Approval Gross Amount

$590,000

Loan Approval from the SBA

Of the total $590,000 loan amount, the SBA guaranteed $442,500.

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 9 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Alaska Growth Cap. Bidco Inc. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Getting a Small Business Loan

Banks in Anchorage, Alaska

SBA Participating Banks in Alaska