Get an SBA Loan for Hotels and Motels

With these small business 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 Maine entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Union Trust Company, out of Ellsworth, Maine. The loan was granted and they received $25,000 to help grow their Southwest Harbor, Maine business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SOUTHWEST HARBOR, ME 04679

SBA Loan Lender

UNION TRUST COMPANY
66 MAIN ST
ELLSWORTH, ME 04605

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/29/2004

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 2 existing jobs.

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Union Trust Company are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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