Business Loans for Hotels and Motels

With these business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,134,000 was given to an Utah entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Woods Cross, Utah was able to borrow $1,134,000 from First Western Sblc, Inc. The SBA made the loan possible by guaranteeing $850,500 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
WOODS CROSS, UT 84010

SBA Loan Lender

FIRST WESTERN SBLC, INC
17950 PRESTON RD, STE 600,
DALLAS, TX 75252

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$1,134,000

Loan Approval from the SBA

Of the total $1,134,000 loan amount, the SBA guaranteed $850,500.

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 only one employee. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

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

We can help you find the best banks for small businesses in Woods Cross or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Microlending as a Small Business Funding Source

Banks in Dallas, Texas

Texas SBA 7A Lenders