Where to Get Capital for Hotels and Motels

With these small business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $713,000 was given to a Wyoming entrepreneur in 2008.

This company received financial assistance through the SBA's lending programs back in 2008. They applied for an SBA loan with Excel National Bank, out of Beverly Hills, California. The loan was granted and they received $713,000 to help grow their Rawlins, Wyoming business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
RAWLINS, WY 82301

SBA Loan Lender

EXCEL NATIONAL BANK
9701 WILSHIRE BLVD
BEVERLY HILLS, CA 90212

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

1/3/2008

Loan Approval Gross Amount

$713,000

Loan Approval from the SBA

Of the total $713,000 loan amount, the SBA guaranteed $534,750.

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 4 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Excel National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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