Bank Loans for Hotels and Motels

With these bank loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,180,000 was given to a Kansas entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Leavenworth, Kansas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Citizens Bank, based in Elizabethton, Tennessee.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
LEAVENWORTH, KS 66048

SBA Loan Lender

CITIZENS BANK
300 BROAD ST
ELIZABETHTON, TN 37643

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

2/7/2006

Loan Approval Gross Amount

$1,180,000

Loan Approval from the SBA

Of the total $1,180,000 loan amount, the SBA guaranteed $885,000.

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

Great, But How Can I Get an SBA Loan for My Business?

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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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

SBA 7A Banks for Elizabethton, Tennessee Loans

Getting an SBA Loan in Tennessee