Financing for Hotels and Motels

With these loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $25,000 was given to a New York entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Salamanca, New York, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Jamestown Savings Bank D/b/a N, based in Lakewood, New York.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SALAMANCA, NY 14779

SBA Loan Lender

JAMESTOWN SAVINGS BANK D/B/A N
311 E FAIRMOUNT AVE
LAKEWOOD, NY 14750

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

5/18/2001

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $18,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Salamanca or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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Small Business Banks in Lakewood, New York

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