Commercial Loans for Hotels and Motels

Looking for commercial loans for hotels and motels? An SBA loan may be just what you've been looking for. This $150,000 hotels and motels loan was issued by a Maine bank.

Getting a small business loan in Van Buren (census Name For Van, Maine was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Katahdin Trust Co., operating out of Patten, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
VAN BUREN (CENSUS NAME FOR VAN, ME 04785

SBA Loan Lender

KATAHDIN TRUST CO.
MAIN ST
PATTEN, ME 04765

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/24/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Dealing With Venture Capitalists

SBA Banks in Patten, Maine

Maine SBA Bank Lenders