Get an SBA Loan for Traveler Accommodation

With these small business loans for traveler accommodation, the SBA guarantees the lender that the loan will be repaid. This traveler accommodation loan for $80,000 was given to a New York entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cincinnatus, New York was able to borrow $80,000 from Alliance Bank. The SBA made the loan possible by guaranteeing $68,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CINCINNATUS, NY 13040

SBA Loan Lender

ALLIANCE BANK
65 MAIN ST
CORTLAND, NY 13045

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721199 - Traveler Accommodation

Loan Approval Date

10/7/2002

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 15 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Alliance Bank and they will explain how you can get an SBA loan for your company.

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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Banks in Cortland, New York

SBA Lenders in New York