Hotels and Motels Business Loans

Looking for business loans for hotels and motels? Try the SBA. This $260,000 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 Speculator, New York was able to borrow $260,000 from Adirondack Bank. The SBA made the loan possible by guaranteeing $195,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SPECULATOR, NY 12164

SBA Loan Lender

ADIRONDACK BANK
136 ORISKANY BLVD
WHITESBORO, NY 13492

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/2/2004

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $195,000.

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 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Speculator 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.

Related Links:

Business Incubators

Small Bank Loans in Whitesboro, New York

Getting a Business Loan in New York