Getting an SBA Loan for Hotels and Motels

Looking for commercial loans for hotels and motels? The SBA may be the answer. This $225,000 hotels and motels loan was issued by a New Jersey bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wildwood, New Jersey was able to borrow $225,000 from Sun National Bank. The SBA made the loan possible by guaranteeing $112,500 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
WILDWOOD, NJ 08260

SBA Loan Lender

SUN NATIONAL BANK
226 LANDIS AVE
VINELAND, NJ 08360

This lender processed this SBA 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

1/18/2005

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $112,500.

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. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sun National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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 Line of Credit

Good Banks for Small Business in Vineland, New Jersey

New Jersey SBA Bank Lenders