Hotels and Motels Commercial Loans

Looking for commercial loans for hotels and motels? An SBA loan may be just what you've been looking for. This $875,000 hotels and motels loan was issued by a New Jersey bank.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Commerce Bank, out of Flemington, New Jersey. The loan was granted and they received $875,000 to help grow their Camilla, Georgia business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
Camilla, GA 31730

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

12/3/2007

Loan Approval Gross Amount

$875,000

Loan Approval from the SBA

Of the total $875,000 loan amount, the SBA guaranteed $656,250.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Advice on Getting a Small Business Loan

SBA Participating Banks in Flemington, New Jersey

SBA Lenders in New Jersey