Small Business Loans for Hotels and Motels

With these small business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $994,500 was given to a Colorado entrepreneur in 2002.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Borrego Springs Bank, out of Borrego Springs, California. The loan was granted and they received $994,500 to help grow their Limon, Colorado business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
LIMON, CO 80828

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

5/10/2002

Loan Approval Gross Amount

$994,500

Loan Approval from the SBA

Of the total $994,500 loan amount, the SBA guaranteed $745,875.

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 13 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Limon or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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