New York SBA Loan Issued to Hotels And Motels Company

Looking to get a New York small business loan? This New York entrepreneur got a small business loan, provided by a Washington bank that works with the SBA to help small business owners.

Getting a small business loan in Plattsburgh, New York was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
Plattsburgh, NY 12901

SBA Loan Lender

BANK OF AMERICA
707 S 227TH ST
DES MOINES, WA 98198

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/20/2005

Loan Approval Gross Amount

$549,000

Loan Approval from the SBA

Of the total $549,000 loan amount, the SBA guaranteed $411,750.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

Related Links:

Obtaining Funding - Friends and Family

SBA Banks in Des Moines, Washington

Getting a Business Loan in Washington