Hotels and Motels Bank Loans

Looking for bank loans for hotels and motels? Talk to a banker who works with the SBA. This $243,000 hotels and motels loan was issued by a Michigan bank.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Citizens National Bank - Cheboygan, out of Cheboygan, Michigan. The loan was granted and they received $243,000 to help grow their Indian River, Michigan business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
INDIAN RIVER, MI 49749

SBA Loan Lender

CITIZENS NATIONAL BANK - CHEBOYGAN
303 N MAIN ST
CHEBOYGAN, MI 49721

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/22/2005

Loan Approval Gross Amount

$243,000

Loan Approval from the SBA

Of the total $243,000 loan amount, the SBA guaranteed $121,500.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Citizens National Bank - Cheboygan 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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