How to Get a Loan 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 $889,000 was given to a Florida entrepreneur in 2005.

Getting a small business loan in Tampa, Florida was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Synovus Bank Of Tampa Bay, operating out of Saint Petersburg, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
TAMPA, FL 33612

SBA Loan Lender

SYNOVUS BANK OF TAMPA BAY
333 THIRD AVE NORTH
SAINT PETERSBURG, FL 33701

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

5/19/2005

Loan Approval Gross Amount

$889,000

Loan Approval from the SBA

Of the total $889,000 loan amount, the SBA guaranteed $666,750.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Synovus Bank Of Tampa Bay and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Getting a Small Business Loan

SBA Approved Banks in Saint Petersburg, Florida

Getting an SBA Loan in Florida