Raising Money for Hotels and Motels

With these bank loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $514,000 was given to an Oregon entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Prineville, Oregon, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Frontier Bank, based in Bainbridge Island, Washington.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
PRINEVILLE, OR 97754

SBA Loan Lender

FRONTIER BANK
901 HILDEBRAND LN NE
BAINBRIDGE ISLAND, WA 98110

This debt financing was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA delivers a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/12/2002

Loan Approval Gross Amount

$514,000

Loan Approval from the SBA

Of the total $514,000 loan amount, the SBA guaranteed $385,500.

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. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must 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.

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 Frontier Bank 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.

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