Bank Loans for Hotels and Motels

With these bank loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,333,000 was given to an Ohio entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Delaaware, Ohio was able to borrow $1,333,000 from United Midwest Savings Bank. The SBA made the loan possible by guaranteeing $999,750 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
DELAAWARE, OH 43015

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/3/2002

Loan Approval Gross Amount

$1,333,000

Loan Approval from the SBA

Of the total $1,333,000 loan amount, the SBA guaranteed $999,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 12 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Delaaware OH, you ought to talk with a local Delaaware SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Delaaware businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Determining Proper Capital Structure for a Business

SBA Approved Banks in De Graff, Ohio

Ohio SBA 7A Banks