Borrowing Money for Hotels and Motels

Looking for bank loans for hotels and motels? Talk to a banker who works with the SBA. This $242,700 hotels and motels loan was issued by a Florida bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Community Bank Of Manatee, out of Bradenton, Florida. The loan was granted and they received $242,700 to help grow their Clearwater, Florida business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CLEARWATER, FL 33755

SBA Loan Lender

COMMUNITY BANK OF MANATEE
6000 SR 70 EAST
BRADENTON, FL 34203

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

11/5/2002

Loan Approval Gross Amount

$242,700

Loan Approval from the SBA

Of the total $242,700 loan amount, the SBA guaranteed $182,025.

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 2 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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