Commercial Loans for Hotels and Motels

Looking for commercial loans for hotels and motels? Try the SBA. This $1,007,448 hotels and motels loan was issued by a Kansas bank.

Getting a small business loan in Weatherford, Texas was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC, operating out of Wichita, Kansas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
WEATHERFORD, TX 76086

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
121 W. DEWEY , STE. 210
WICHITA, KS 67202

This commercial loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA delivers a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/27/2002

Loan Approval Gross Amount

$1,007,448

Loan Approval from the SBA

Of the total $1,007,448 loan amount, the SBA guaranteed $755,586.

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 7 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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