Hotels and Motels Loans

With these loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,160,000 was given to a Georgia entrepreneur in 2004.

Getting a small business loan in Douglas, Georgia was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Colony Bank Southeast, operating out of Douglas, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
DOUGLAS, GA 31533

SBA Loan Lender

COLONY BANK SOUTHEAST
625 W WARD ST
DOUGLAS, GA 31533

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/21/2004

Loan Approval Gross Amount

$1,160,000

Loan Approval from the SBA

Of the total $1,160,000 loan amount, the SBA guaranteed $870,000.

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 8 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Colony Bank Southeast and they will explain how you can get an SBA loan for your company.

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:

Small Business Credit Cards

Who Lends Money to Small Businesses in Douglas, Georgia

Getting an SBA Loan in Georgia