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March 28, 2024  
 
 
  Business Loan Information  
 

How Hard Is It to Get a Small Business Loan in Salinas, California?

 

 
Loan Census SBA Loan Info

Hotels and Motels Bank Loans

With these bank loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,800,000 was given to a California entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Heritage Bank Of Commerce, out of San Jose, California. The loan was granted and they received $1,800,000 to help grow their Salinas, California business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SALINAS, CA 93905

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/3/2003

Loan Approval Gross Amount

$1,800,000

Loan Approval from the SBA

Of the total $1,800,000 loan amount, the SBA guaranteed $999,900.

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 6 employees. The loan application indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Salinas or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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