Commercial Loans for Bed-and-Breakfast Inns

With these commercial loans for bed-and-breakfast inns, the SBA guarantees the lender that the loan will be repaid. This bed-and-breakfast inns loan for $355,000 was given to a New York entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Cambridge, New York, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was The Bank Of Bennington, based in Bennington, Vermont.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
CAMBRIDGE, NY 12816

SBA Loan Lender

THE BANK OF BENNINGTON
155 NORTH ST
BENNINGTON, VT 05201

This lender issued this business loan under the 7A SBA program, 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.

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

5/26/2006

Loan Approval Gross Amount

$355,000

Loan Approval from the SBA

Of the total $355,000 loan amount, the SBA guaranteed $266,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

We can help you find the best banks for small businesses in Cambridge or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Strategic Investors

Where to Get an SBA Loan in Bennington, Vermont

Vermont SBA Banks