Hotels and Motels Commercial Loans
Looking for commercial loans for hotels and motels? An SBA loan may be just what you've been looking for. This $1,566,000 hotels and motels loan was issued by a Texas bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Montgomery, Alabama was able to borrow $1,566,000 from United Central Bank. The SBA made the loan possible by guaranteeing $1,174,500 of this Alabama small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
MONTGOMERY, AL 36108
SBA Loan Lender
UNITED CENTRAL BANK
4555 W WALNUT ST
GARLAND, TX 75042
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
2/7/2007
Loan Approval Gross Amount
$1,566,000
Loan Approval from the SBA
Of the total $1,566,000 loan amount, the SBA guaranteed $1,174,500.
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 4 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 10 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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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