Where to Get Capital for Hotels and Motels

Looking for SBA loans for hotels and motels? Talk to a banker who works with the SBA. This $100,000 hotels and motels loan was issued by a South Dakota bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Great Western Bank, out of Mcintosh, South Dakota. The loan was granted and they received $100,000 to help grow their Watauga, South Dakota business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
WATAUGA, SD 57660

SBA Loan Lender

GREAT WESTERN BANK
217 MAIN ST
MCINTOSH, SD 57641

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/4/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 4 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Watauga SD, you ought to talk with a local Watauga SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Watauga businesses.

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.

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