SBA Loans for Hotels and Motels

Looking for SBA loans for hotels and motels? An SBA loan may be just what you've been looking for. This $1,792,000 hotels and motels loan was issued by an Ohio bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Home Savings & Loan Co - Youn, out of Youngstown, Ohio. The loan was granted and they received $1,792,000 to help grow their East Liverpool, Ohio business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
EAST LIVERPOOL, OH 43920

SBA Loan Lender

HOME SAVINGS & LOAN CO - YOUN
275 FEDERAL PLAZA WEST
YOUNGSTOWN, OH 44503

This lender issued this debt financing under the SBA's 7(a) guaranteed loan 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

9/7/2006

Loan Approval Gross Amount

$1,792,000

Loan Approval from the SBA

Of the total $1,792,000 loan amount, the SBA guaranteed $1,344,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 54 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,792,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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SBA Banks in Youngstown, Ohio

SBA Lenders in Ohio