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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Luis Obispo, Business Loans > Heritage Oaks Bank San Luis Obispo Business Loans > Hotels And Motels Loan | ||||
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I Need an SBA Loan in Morro Bay, California
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Financing for Hotels and MotelsLooking for commercial loans for hotels and motels? The SBA may be the answer. This $332,500 hotels and motels loan was issued by a California bank. This small business knew how to go about getting a business bank loan. Based in Morro Bay, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Heritage Oaks Bank, based in San Luis Obispo, California. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender HERITAGE OAKS BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. 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 3/10/2000 Loan Approval Gross Amount $332,500 Loan Approval from the SBA Of the total $332,500 loan amount, the SBA guaranteed $249,375. 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 3 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Heritage Oaks Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 San Luis Obispo, California
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