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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Hotels And Motels Loan | ||||
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Woodland Park, Colorado Bank for SBA Loans
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Where to Get Capital for Hotels and MotelsLooking for small business loans for hotels and motels? An SBA loan may be just what you've been looking for. This $750,500 hotels and motels loan was issued by a New York bank. Getting a small business loan in Woodland Park, Colorado was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC, operating out of New York, New York. Here are the details on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BUSINESS LOAN CENTER, LLC The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 3/5/2001 Loan Approval Gross Amount $750,500 Loan Approval from the SBA Of the total $750,500 loan amount, the SBA guaranteed $562,875. 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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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. Related Links: SBA 7A Banks for New York, New York Loans
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