SBA Loans for Hotels (except Casino Hotels) and Motels in Massachusetts: Top Lenders
NAICS 721NAICS 721 covers hotels (except casino hotels) and motels businesses in Massachusetts. Based on historical SBA 7(a) lending data.
Total Approvals
6
in Massachusetts
Median Loan Size
$755,000
per approval
Recent Activity
0
last 90 days through Aug 2024
NAICS 721 covers hotels (except casino hotels) and motels businesses. This is a smaller category in SBA 7(a) lending with 6 approvals on record and a median loan size of $755,000.
Key trends & insights
- Hotels (except Casino Hotels) and Motels in Massachusetts lending is concentrated — Hanover Community Bank, Newtek Small Business Finance, INC., Live OAK Banking Company together account for 50% of all approvals. If you're in this industry, these are your highest-probability lenders.
- Hanover Community Bank leads this industry with 1 approvals (17% market share) and a median loan of $1,523,300.
- Hotels (except Casino Hotels) and Motels in Massachusetts loans run larger than the SBA average — a $755,000 median vs. ~$450,000 across all industries. These businesses typically need more capital.
- SBA data for this industry goes through 2024-08-26 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.
Most active SBA lenders for Hotels (except Casino Hotels) and Motels in Massachusetts
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 1 | $1,523,300 | |
| 2 | 1 | $1,860,000 | |
| 3 | 1 | $350,000 | |
| 4 | 1 | $1,160,000 | |
| 5 | 1 | $20,000 | |
| 6 | 1 | $16,500 |
Recent SBA 7(a) approvals for Hotels (except Casino Hotels) and Motels in Massachusetts
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2024-08 | Hanover Community Bank | DHA*****LLC | LEE, MA | $1,523,300 |
| 2024-08 | Live Oak Banking Company | Hin*****LLC | CHARLEMONT, MA | $350,000 |
| 2023-08 | TD Bank, National Association | CJ****NC. | BREWSTER, MA | $180,000 |
| 2023-08 | Hanmi Bank | TET*****LLC | LEE, MA | $1,160,000 |
| 2023-01 | Newtek Small Business Finance, Inc. | DOC*****USE | LENOX, MA | $1,860,000 |
| 2022-02 | Adams Community Bank | Vac*****LLC | CHARLEMONT, MA | $16,500 |
| 2020-05 | Martha's Vineyard Bank | Fre*****let | VINEYARD HAVEN, MA | $20,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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