Financing for Hotels and Motels

Looking for commercial loans for hotels and motels? An SBA loan may be just what you've been looking for. This $1,230,000 hotels and motels loan was issued by a Virginia bank.

Getting a small business loan in Santa Rosa, New Mexico was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC, operating out of Richmond, Virginia. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SANTA ROSA, NM 88435

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/20/2002

Loan Approval Gross Amount

$1,230,000

Loan Approval from the SBA

Of the total $1,230,000 loan amount, the SBA guaranteed $922,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help retain 10 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.

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 $1,230,000 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:

Borrowing Money from Friends and Family

Small Business Banks in Richmond, Virginia

Virginia SBA Banks