Traveler Accommodation Business Loans

With these business loans for traveler accommodation, the SBA guarantees the lender that the loan will be repaid. This traveler accommodation loan for $20,000 was given to a Florida entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fernandina Beach, Florida was able to borrow $20,000 from First Coast Community Bank. The SBA made the loan possible by guaranteeing $17,000 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
FERNANDINA BEACH, FL 32034

SBA Loan Lender

FIRST COAST COMMUNITY BANK
1750 S 14TH ST
FERNANDINA BEACH, FL 32034

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721199 - Traveler Accommodation

Loan Approval Date

7/24/2001

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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