Getting an SBA Loan for Hotels and Motels

Looking for SBA loans for hotels and motels? An SBA loan may be just what you've been looking for. This $549,203 hotels and motels loan was issued by a Colorado bank.

Getting a small business loan in Meeker, Colorado was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First National Bank - Rockies, operating out of Grand Junction, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
MEEKER, CO 81641

SBA Loan Lender

FIRST NATIONAL BANK - ROCKIES
2452 US HWY 6 & 50
GRAND JUNCTION, CO 81505

This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/22/2002

Loan Approval Gross Amount

$549,203

Loan Approval from the SBA

Of the total $549,203 loan amount, the SBA guaranteed $411,902.

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 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank - Rockies had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank - Rockies made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Strategic Investors

SBA Banks in Grand Junction, Colorado

Getting a Business Loan in Colorado