Get an SBA Loan for Hotels and Motels

Looking for bank loans for hotels and motels? Try the SBA. This $347,000 hotels and motels loan was issued by a South Dakota bank.

Getting a small business loan in Platte, South Dakota was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First National Bank So. Dakota, operating out of Yankton, South Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
PLATTE, SD 57369

SBA Loan Lender

FIRST NATIONAL BANK SO. DAKOTA
332 BROADWAY
YANKTON, SD 57078

This loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

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

10/9/2003

Loan Approval Gross Amount

$347,000

Loan Approval from the SBA

Of the total $347,000 loan amount, the SBA guaranteed $260,250.

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 10 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Platte 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.

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Find an SBA Lender in Yankton, South Dakota

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