Hotels and Motels Business Loans

With these business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $326,500 was given to a Wyoming entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Shoshone First Bank, out of Cody, Wyoming. The loan was granted and they received $326,500 to help grow their Cody, Wyoming business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CODY, WY 82414

SBA Loan Lender

SHOSHONE FIRST BANK
1401 SHERIDAN AVE
CODY, WY 82414

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/7/2005

Loan Approval Gross Amount

$326,500

Loan Approval from the SBA

Of the total $326,500 loan amount, the SBA guaranteed $244,875.

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 15 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Shoshone First Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Shoshone First Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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