Raising Money for Bed-and-Breakfast Inns

With these bank loans for bed-and-breakfast inns, the SBA guarantees the lender that the loan will be repaid. This bed-and-breakfast inns loan for $50,000 was given to a Wisconsin entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in La Crosse, Wisconsin was able to borrow $50,000 from Park Bank. The SBA made the loan possible by guaranteeing $42,500 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
LA CROSSE, WI 54601

SBA Loan Lender

PARK BANK
700 STATE ST
LA CROSSE, WI 54602

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

7/15/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? 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.

Related Links:

Business Credit Evaluation

Small Business Banks in La Crosse, Wisconsin

Browse All Business Loan Sources for Wisconsin