Where to Get Capital for Traveler Accommodation

With these SBA loans for traveler accommodation, the SBA guarantees the lender that the loan will be repaid. This traveler accommodation loan for $140,000 was given to a Minnesota entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rothsay, Minnesota was able to borrow $140,000 from Bremer Bank. The SBA made the loan possible by guaranteeing $119,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ROTHSAY, MN 56579

SBA Loan Lender

BREMER BANK
2330 COLLEGE WAY
FERGUS FALLS, MN 56537

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

721199 - Traveler Accommodation

Loan Approval Date

5/1/2002

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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 From a Venture Capitalist

SBA Approved Banks in Fergus Falls, Minnesota

Getting an SBA Loan in Minnesota