SBA Loans for Hotels and Motels

Looking for SBA loans for hotels and motels? Try the SBA. This $1,250,000 hotels and motels loan was issued by a New Jersey bank.

This small business knew how to go about getting a business bank loan. Based in Elmwood Park (east Paterson), New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Commerce Bank, based in Flemington, New Jersey.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ELMWOOD PARK (EAST PATERSON), NJ 07407

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/13/2000

Loan Approval Gross Amount

$1,250,000

Loan Approval from the SBA

Of the total $1,250,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 3 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $1,250,000. How would you spend $1,250,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Flemington, New Jersey

Find an SBA Lender in New Jersey