How to Get a Loan for Hotels and Motels

Looking for business loans for hotels and motels? Talk to a banker who works with the SBA. This $132,000 hotels and motels loan was issued by a New Hampshire bank.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Passumpsic Savings Bank, out of Littleton, New Hampshire. The loan was granted and they received $132,000 to help grow their Lincoln, New Hampshire business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
LINCOLN, NH 03251

SBA Loan Lender

PASSUMPSIC SAVINGS BANK
81 MEADOW ST
LITTLETON, NH 03561

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

11/29/2000

Loan Approval Gross Amount

$132,000

Loan Approval from the SBA

Of the total $132,000 loan amount, the SBA guaranteed $99,000.

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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $132,000 loan. Remember, things become real when you believe you can achieve them!

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:

Debt Financing

Banks in Littleton, New Hampshire

Getting a Business Loan in New Hampshire