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May 1, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Heritage Bank Of Commerce San Jose Business Loans > Hotels And Motels Loan | ||||
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SBA Lenders in Merced
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Merced, California Business Gets SBA-Guaranteed Funding from Heritage Bank Of CommerceHeritage Bank Of Commerce has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Heritage Bank Of Commerce, out of San Jose, California. The loan was granted and they received $1,460,000 to help grow their Merced, California business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender HERITAGE BANK OF COMMERCE 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 and Motels Loan Approval Date 4/22/2005 Loan Approval Gross Amount $1,460,000 Loan Approval from the SBA Of the total $1,460,000 loan amount, the SBA guaranteed $1,095,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,460,000 loan. Remember, if it to be, it is up to me! 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: Find an SBA Lender in San Jose, California
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