Hotels and Motels Bank Loans

Looking for bank loans for hotels and motels? An SBA loan may be just what you've been looking for. This $420,000 hotels and motels loan was issued by a Vermont bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Chittenden Trust Company, out of Burlington, Vermont. The loan was granted and they received $420,000 to help grow their Center Ossipee, New Hampshire business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CENTER OSSIPEE, NH 03814

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/24/2001

Loan Approval Gross Amount

$420,000

Loan Approval from the SBA

Of the total $420,000 loan amount, the SBA guaranteed $315,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find business people willing to loan money, 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.

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