Where to Get Capital for Traveler Accommodation

Looking for SBA loans for traveler accommodation? Try the SBA. This $88,000 traveler accommodation loan was issued by a New York bank.

Getting a small business loan in Niagara Falls, New York was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Niagara Bank, operating out of Buffalo, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
NIAGARA FALLS, NY 14301

SBA Loan Lender

FIRST NIAGARA BANK
1776 SHERIDAN DR
BUFFALO, NY 14223

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721199 - Traveler Accommodation

Loan Approval Date

4/23/2004

Loan Approval Gross Amount

$88,000

Loan Approval from the SBA

Of the total $88,000 loan amount, the SBA guaranteed $74,800.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Niagara Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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