Getting an SBA Loan for Hotels and Motels

Looking for business loans for hotels and motels? Talk to a banker who works with the SBA. This $52,000 hotels and motels loan was issued by an Oregon bank.

This business knew how to go about getting a business bank loan. Based in Detroit, Oregon, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was West Coast Bank, based in Lake Oswego, Oregon.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
DETROIT, OR 97342

SBA Loan Lender

WEST COAST BANK
5335 MEADOWS RD
LAKE OSWEGO, OR 97035

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/3/2006

Loan Approval Gross Amount

$52,000

Loan Approval from the SBA

Of the total $52,000 loan amount, the SBA guaranteed $26,000.

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. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Bank Credit Lines

Where to Get an SBA Loan in Lake Oswego, Oregon

SBA Oregon Lenders