Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Eloy, Arizona Bank Loan

 

 
Loan Census SBA Loan Info

Where to Get Capital for Hotels and Motels

With these small business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $474,000 was given to an Arizona entrepreneur in 2005.

Getting a small business loan in Eloy, Arizona was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Great Western Bank, operating out of Casa Grande, Arizona. Here are the details on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ELOY, AZ 85231

SBA Loan Lender

GREAT WESTERN BANK
1300 E FLORENCE BLVD
CASA GRANDE, AZ 85222

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/22/2005

Loan Approval Gross Amount

$474,000

Loan Approval from the SBA

Of the total $474,000 loan amount, the SBA guaranteed $237,000.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 Great Western 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:

Dealing With Venture Capitalists

Best Banks for Small Business in Casa Grande, Arizona

Where to Get an SBA Loan Arizona