Where to Get Capital for Hotels and Motels
With these SBA loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,738,000 was given to a North Carolina entrepreneur in 2007.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Raleigh, North Carolina was able to borrow $1,738,000 from Community So. Bank D.B.A Commun. The SBA made the loan possible by guaranteeing $1,303,500 of this North Carolina small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
Raleigh, NC 27603
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363
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
2/15/2007
Loan Approval Gross Amount
$1,738,000
Loan Approval from the SBA
Of the total $1,738,000 loan amount, the SBA guaranteed $1,303,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 10 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs.
Start the Process for Getting an SBA Loan Today!
Many small businesses receive loans backed by the U.S. Small Business Administration.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,738,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Business Line of Credit
SBA Banks in Parsons, Tennessee
Where to Get an SBA Loan Tennessee