Where to Get Capital 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 $1,333,000 was given to a Tennessee entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Chattanooga, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Citizens Bank, based in Elizabethton, Tennessee.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CHATTANOOGA, TN 37343

SBA Loan Lender

CITIZENS BANK
300 BROAD ST
ELIZABETHTON, TN 37643

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and are well trained in SBA policies and procedures.

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

6/18/2002

Loan Approval Gross Amount

$1,333,000

Loan Approval from the SBA

Of the total $1,333,000 loan amount, the SBA guaranteed $999,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 23 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

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Find an SBA Lender in Elizabethton, Tennessee

Getting an SBA Loan in Tennessee