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May 3, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > Hotels And Motels Loan | ||||
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Los Angeles Bank Loan
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Los Angeles, California Lender Lends Money to Hotels And Motels CompanyFind Los Angeles, California banks that specialize in small business loans and know how to work with entrepreneurs. Wilshire State Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Barstow, California starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Wilshire State Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender WILSHIRE STATE BANK This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and a deep knowledge SBA policies and procedures. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 3/5/2003 Loan Approval Gross Amount $1,305,000 Loan Approval from the SBA Of the total $1,305,000 loan amount, the SBA guaranteed $978,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 13 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wilshire State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks for Small Business in Los Angeles, California Getting an SBA Loan in California
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