Business Loans for Hotels and Motels

Looking for business loans for hotels and motels? An SBA loan may be just what you've been looking for. This $700,000 hotels and motels loan was issued by a New Hampshire bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Conway, New Hampshire was able to borrow $700,000 from Northway Bank. The SBA made the loan possible by guaranteeing $525,000 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
NORTH CONWAY, NH 03860

SBA Loan Lender

NORTHWAY BANK
9 MAIN ST
BERLIN, NH 03570

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and are well trained in SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/8/2003

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Northway Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Northway Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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SBA 7A Banks in Berlin, New Hampshire

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