Hotels and Motels Loans
With these loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $145,000 was given to a Tennessee entrepreneur in 2006.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Nashville, Tennessee was able to borrow $145,000 from Community So. Bank D.B.A Commun. The SBA made the loan possible by guaranteeing $108,750 of this Tennessee small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
NASHVILLE, TN 37214
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
4/25/2006
Loan Approval Gross Amount
$145,000
Loan Approval from the SBA
Of the total $145,000 loan amount, the SBA guaranteed $108,750.
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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
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 Community So. Bank D.B.A Commun 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 Decide How Much to Raise
SBA Approved Banks in Parsons, Tennessee
SBA Lenders in Tennessee