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 $100,000 hotels and motels loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Montour Falls, New York was able to borrow $100,000 from Community Bank. The SBA made the loan possible by guaranteeing $85,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
MONTOUR FALLS, NY 14865

SBA Loan Lender

COMMUNITY BANK
300 W WATER ST
ELMIRA, NY 14901

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/4/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 8 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

We can help you find the best banks for small businesses in Montour Falls or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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 Approved Banks in Elmira, New York

SBA Lenders in New York