The Huntington National Bank SBA Loan to Hotels And Motels Company

The Huntington National Bank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with The Huntington National Bank, out of Columbus, Ohio. The loan was granted and they received $446,200 to help grow their Trout Lake, Michigan business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
TROUT LAKE, MI 49793

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/31/2002

Loan Approval Gross Amount

$446,200

Loan Approval from the SBA

Of the total $446,200 loan amount, the SBA guaranteed $334,650.

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 15 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Huntington National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Huntington National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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