Commercial Loans for Hotels and Motels
With these commercial loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,953,900 was given to a Georgia entrepreneur in 2006.
This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Business Loan Center, LLC, out of New York, New York. The loan was granted and they received $1,953,900 to help grow their Tybee Island, Georgia business.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
TYBEE ISLAND, GA 31328
SBA Loan Lender
BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019
This lender provides SBA commercial 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
7/5/2006
Loan Approval Gross Amount
$1,953,900
Loan Approval from the SBA
Of the total $1,953,900 loan amount, the SBA guaranteed $1,465,425.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Business Loan Center, LLC so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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