Hotels and Motels SBA Loans

With these SBA loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $580,000 was given to a Vermont entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mendon, Vermont was able to borrow $580,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $435,000 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
MENDON, VT 05701

SBA Loan Lender

TD BANKNORTH
215 MAIN ST
BRATTLEBORO, VT 05301

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

1/6/2000

Loan Approval Gross Amount

$580,000

Loan Approval from the SBA

Of the total $580,000 loan amount, the SBA guaranteed $435,000.

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 4 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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