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 $1,520,000 was given to a Texas entrepreneur in 2006.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Mainstreet Lender 7(a), LLC, out of Chevy Chase, Maryland. The loan was granted and they received $1,520,000 to help grow their Houston, Texas business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
HOUSTON, TX 77037

SBA Loan Lender

MAINSTREET LENDER 7(A), LLC
2 WISCONSIN CIRCLE, 9TH FLOOR
CHEVY CHASE, MD 20815

This SBA small business loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/4/2006

Loan Approval Gross Amount

$1,520,000

Loan Approval from the SBA

Of the total $1,520,000 loan amount, the SBA guaranteed $1,140,000.

More Information on This SBA Loan

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

Getting an SBA Loan For Your Business

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Mainstreet Lender 7(a), LLC and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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