How to Get a Loan for Hotels and Motels

Looking for SBA loans for hotels and motels? An SBA loan may be just what you've been looking for. This $266,000 hotels and motels loan was issued by a Wisconsin bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clintonville, Wisconsin was able to borrow $266,000 from The First State Bank. The SBA made the loan possible by guaranteeing $199,500 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CLINTONVILLE, WI 54929

SBA Loan Lender

THE FIRST STATE BANK
113 W NORTH WATER ST
NEW LONDON, WI 54961

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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/17/2002

Loan Approval Gross Amount

$266,000

Loan Approval from the SBA

Of the total $266,000 loan amount, the SBA guaranteed $199,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The First State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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Wisconsin SBA 7A Banks