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 $1,330,000 was given to a Texas entrepreneur in 2002.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fort Worth, Texas was able to borrow $1,330,000 from United Central Bank. The SBA made the loan possible by guaranteeing $997,500 of this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
FORT WORTH, TX 76116
SBA Loan Lender
UNITED CENTRAL BANK
4555 W WALNUT ST
GARLAND, TX 75042
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
10/10/2002
Loan Approval Gross Amount
$1,330,000
Loan Approval from the SBA
Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.
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 6 employees. The SBA loan documents indicated that the borrowed money would help create 6 new jobs.
Great, But How Can I Get an SBA Loan for My Business?
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 are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? 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.
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