Hotels and Motels SBA Loans

With these SBA loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $621,000 was given to a Vermont entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Brattleboro S & L Association, out of Brattleboro, Vermont. The loan was granted and they received $621,000 to help grow their West Dover, Vermont business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
WEST DOVER, VT 05356

SBA Loan Lender

BRATTLEBORO S & L ASSOCIATION
221 MAIN ST
BRATTLEBORO, VT 05301

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

6/28/2002

Loan Approval Gross Amount

$621,000

Loan Approval from the SBA

Of the total $621,000 loan amount, the SBA guaranteed $465,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Brattleboro S & L Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

SBA Participating Banks in Brattleboro, Vermont

SBA Vermont Lenders

Small Business Banks for West Dover, Vermont Business Owners

Hotels and Motels SBA Loans