Bank Loans for Hotels and Motels

Looking for bank loans for hotels and motels? Talk to a banker who works with the SBA. This $290,117 hotels and motels loan was issued by an Illinois bank.

Getting a small business loan in Marion, Illinois was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Bank Of Marion, operating out of Marion, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
MARION, IL 62959

SBA Loan Lender

THE BANK OF MARION
300 TOWER SQUARE PLZ
MARION, IL 62959

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to entrepreneurs who might have trouble getting a conventional bank 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

5/1/2002

Loan Approval Gross Amount

$290,117

Loan Approval from the SBA

Of the total $290,117 loan amount, the SBA guaranteed $217,588.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Bank Of Marion and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - How to Borrow Money

SBA 7A Lenders in Marion, Illinois

Getting an SBA Loan in Illinois