Borrowing Money for Hotels and Motels

With these small business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $493,000 was given to a Virginia entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Blackstone, Virginia was able to borrow $493,000 from Temecula Valley Bank. The SBA made the loan possible by guaranteeing $369,750 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BLACKSTONE, VA 23824

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

This lender issued this SBA 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

5/27/2004

Loan Approval Gross Amount

$493,000

Loan Approval from the SBA

Of the total $493,000 loan amount, the SBA guaranteed $369,750.

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 4 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Small Business Loan

SBA 7A Banks for Temecula, California Loans

SBA California Lenders