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December 22, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > Hotels And Motels Loan | ||||
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How to Get SBA Loans in Concordia, Missouri
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Loans for Hotels and MotelsWith these loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,275,000 was given to a Missouri entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Concordia, Missouri was able to borrow $1,275,000 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $956,250 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender WACHOVIA SBA LENDING, INC. As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/6/2001 Loan Approval Gross Amount $1,275,000 Loan Approval from the SBA Of the total $1,275,000 loan amount, the SBA guaranteed $956,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Where to Get an SBA Loan in Roseville, California Browse All Business Loan Sources for California
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