Hotels and Motels Loans

Looking for loans for hotels and motels? Try the SBA. This $122,745 hotels and motels loan was issued by a South Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Paso, Texas was able to borrow $122,745 from First Savings Bank. The SBA made the loan possible by guaranteeing $92,059 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
EL PASO, TX 79936

SBA Loan Lender

FIRST SAVINGS BANK
201 N 3RD ST
BERESFORD, SD 57004

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/11/2002

Loan Approval Gross Amount

$122,745

Loan Approval from the SBA

Of the total $122,745 loan amount, the SBA guaranteed $92,059.

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 13 employees. This SBA loan request indicated that the loan would help generate 11 new jobs and retain 2 existing jobs.

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

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $122,745 loan. Remember, anyone can do it... so why not 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:

The Friends and Family Network

Good Banks for Small Business in Beresford, South Dakota

Browse All Business Loan Sources for South Dakota