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December 22, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Rockford, Business Loans > Amcore Bank Rockford Business Loans > Hotels And Motels Loan | ||||
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How Do We Get a Business Loan in Lodi, Wisconsin?
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Hotels and Motels Small Business LoansLooking for small business loans for hotels and motels? Try the SBA. This $418,000 hotels and motels loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lodi, Wisconsin was able to borrow $418,000 from Amcore Bank. The SBA made the loan possible by guaranteeing $313,500 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender AMCORE BANK 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 4/13/2006 Loan Approval Gross Amount $418,000 Loan Approval from the SBA Of the total $418,000 loan amount, the SBA guaranteed $313,500. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you 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. 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 $418,000 loan. Remember, if it to be, it is up to me! 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: Best Banks in Rockford, Illinois
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