Raising Money for Hotels and Motels

With these business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $384,000 was given to a Washington entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Skykomish, Washington, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was First Heritage Bank, based in Snohomish, Washington.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SKYKOMISH, WA 98288

SBA Loan Lender

FIRST HERITAGE BANK
167 LINCOLN ST
SNOHOMISH, WA 98290

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/20/2002

Loan Approval Gross Amount

$384,000

Loan Approval from the SBA

Of the total $384,000 loan amount, the SBA guaranteed $288,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 10 existing jobs.

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

If you need money to start business in Skykomish WA, you ought to talk with a local Skykomish SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Skykomish businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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Who Lends Money to Small Businesses in Snohomish, Washington

Getting an SBA Loan in Washington