Financing for Hotels and Motels

Looking for loans for hotels and motels? Talk to a banker who works with the SBA. This $990,000 hotels and motels loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Saint Petersburg, Florida was able to borrow $990,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $742,500 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SAINT PETERSBURG, FL 33714

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

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

3/7/2002

Loan Approval Gross Amount

$990,000

Loan Approval from the SBA

Of the total $990,000 loan amount, the SBA guaranteed $742,500.

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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Business Loan Center, LLC 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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