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April 29, 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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California SBA 7A Lenders
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Los Angeles, California Bank Lends Money to Hotels And Motels Company in Los Angeles, CaliforniaGet SBA loans from a Los Angeles, California bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Wilshire State Bank is a Los Angeles, California small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a California company. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender WILSHIRE STATE BANK 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 8/22/2003 Loan Approval Gross Amount $1,300,000 Loan Approval from the SBA Of the total $1,300,000 loan amount, the SBA guaranteed $975,000. 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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wilshire State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA Banks in Los Angeles, California
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