Hotels and Motels SBA Loans
With these SBA loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,500,000 was given to a Maryland entrepreneur in 2003.
This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Temecula Valley Bank, out of Temecula, California. The loan was granted and they received $1,500,000 to help grow their Elkton, Maryland business.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
ELKTON, MD 21921
SBA Loan Lender
TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7011 - Hotels and Motels
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
5/16/2003
Loan Approval Gross Amount
$1,500,000
Loan Approval from the SBA
Of the total $1,500,000 loan amount, the SBA guaranteed $999,900.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 9 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
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.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? 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:
Business Credit Evaluation
Good Banks for Small Business in Temecula, California
SBA Participating Banks in California