Hotels and Motels Loans

Looking for loans for hotels and motels? The SBA may be the answer. This $1,040,000 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 Orrville, Ohio was able to borrow $1,040,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $780,000 of this Ohio small business loan.

SBA Loan Borrower

NAR REAL ESTATE, LLC and NANI CORPORATION
11980E. Lincoln Way
Orrville, OH 44667

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

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

9/7/2006

Loan Approval Gross Amount

$1,040,000

Loan Approval from the SBA

Of the total $1,040,000 loan amount, the SBA guaranteed $780,000.

More Information on This SBA Loan

The borrower, Nar Real Estate, LLC And Nani Corporation, 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 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Commerce 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 SBA loan database.

Related Links:

Small Business Credit Cards

Find an SBA Lender in Flemington, New Jersey

New Jersey SBA 7A Lenders

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