Where to Get Capital for Hotels and Motels

With these small business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,075,000 was given to an Ohio entrepreneur in 2000.

Getting a small business loan in Heath (fourmile Lock), Ohio was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank, operating out of Zanesville, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
HEATH (FOURMILE LOCK), OH 43056

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
422 MAIN ST
ZANESVILLE, OH 43702

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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/25/2000

Loan Approval Gross Amount

$1,075,000

Loan Approval from the SBA

Of the total $1,075,000 loan amount, the SBA guaranteed $749,995.

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 7 employees. The loan application indicated that the loan would help generate 7 new jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

Related Links:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Zanesville, Ohio

SBA Lenders in Ohio