Hotels and Motels SBA Loans
With these SBA loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $763,000 was given to a Texas entrepreneur in 2007.
Getting a small business loan in Smithville, Texas was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Community So. Bank D.B.A Commun, operating out of Parsons, Tennessee. Here are the details on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
Smithville, TX 78957
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363
This lender provides SBA business loans 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
5/24/2007
Loan Approval Gross Amount
$763,000
Loan Approval from the SBA
Of the total $763,000 loan amount, the SBA guaranteed $572,250.
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 5 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.
Getting an SBA Loan For Your Business
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.
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 $763,000 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:
Realistic Debt Financing Options
SBA Participating Banks in Parsons, Tennessee
Tennessee SBA 7A Lenders