SBA Loans for Hotels and Motels

Looking for SBA loans for hotels and motels? The SBA may be the answer. This $75,000 hotels and motels loan was issued by a Vermont bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Dover, Vermont was able to borrow $75,000 from Berkshire Bank. The SBA made the loan possible by guaranteeing $37,500 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
WEST DOVER, VT 05356

SBA Loan Lender

BERKSHIRE BANK
4928 MAIN ST
MANCHESTER CENTER, VT 05255

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

7/20/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Berkshire Bank and they will explain how you can get an SBA loan for your company.

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:

Business Cash Advances

SBA Participating Banks in Manchester Center, Vermont

SBA Lenders in Vermont