Getting an SBA Loan for Hotels and Motels

With these SBA loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $150,000 was given to a Missouri entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pittsburg, Missouri was able to borrow $150,000 from Bank Of Urbana. The SBA made the loan possible by guaranteeing $127,500 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
PITTSBURG, MO 65724

SBA Loan Lender

BANK OF URBANA
109 N MAIN ST
URBANA, MO 65767

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/29/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 2 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of Urbana so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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