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| Entrepreneur Resources | Onb Bank And Trust Company Tulsa Business Loans | ||||
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Raising Money in Hot Springs Village, Arkansas With SBA Loans
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Getting an SBA Loan for Hotels and MotelsLooking for commercial loans for hotels and motels? Talk to a banker who works with the SBA. This $1,955,000 hotels and motels loan was issued by an Oklahoma bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hot Springs Village, Arkansas was able to borrow $1,955,000 from Onb Bank And Trust Company. The SBA made the loan possible by guaranteeing $1,466,250 of this Arkansas small business loan. SBA Loan Borrower HOT SPRINGS VILLAGE INN, LLC SBA Loan Lender ONB BANK AND TRUST COMPANY SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels (except Casino Hotels) and Motels Loan Approval Date 6/13/2007 Loan Approval Gross Amount $1,955,000 Loan Approval from the SBA Of the total $1,955,000 loan amount, the SBA guaranteed $1,466,250. More Information on This SBA Loan The borrower, Hot Springs Village Inn, LLC, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help retain 10 existing jobs. Next Steps for Getting an SBA Loan 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 SBA loan database. Related Links: Dealing With Venture Capitalists Find an SBA Lender in Tulsa, Oklahoma SBA Participating Banks in Oklahoma If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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