Raising Money for Hotels and Motels

Looking for business loans for hotels and motels? Try the SBA. This $1,252,000 hotels and motels loan was issued by a Texas bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Small Business Loan Source LLC, out of Houston, Texas. The loan was granted and they received $1,252,000 to help grow their Henderson, Texas business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
HENDERSON, TX 75654

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

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

8/28/2001

Loan Approval Gross Amount

$1,252,000

Loan Approval from the SBA

Of the total $1,252,000 loan amount, the SBA guaranteed $939,000.

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 27 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Small Business Loan Source LLC so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Where to Get an SBA Loan in Houston, Texas

Texas SBA 7A Lenders