Get an SBA Loan for Hotels and Motels

Looking for small business loans for hotels and motels? Talk to a banker who works with the SBA. This $34,500 hotels and motels loan was issued by a North Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Enumclaw, Washington was able to borrow $34,500 from Bank Of America. The SBA made the loan possible by guaranteeing $17,250 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ENUMCLAW, WA 98022

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

12/19/2003

Loan Approval Gross Amount

$34,500

Loan Approval from the SBA

Of the total $34,500 loan amount, the SBA guaranteed $17,250.

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 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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

We can help you find the best banks for small businesses in Enumclaw or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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 Loan

Good Banks for Small Business in Charlotte, North Carolina

SBA Participating Banks in North Carolina