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May 2, 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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Tips for Small Businesses On Getting a Loan
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Financing for Hotels and MotelsLooking for commercial loans for hotels and motels? Talk to a banker who works with the SBA. This $625,000 hotels and motels loan was issued by a California bank. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Wilshire State Bank, out of Los Angeles, California. The loan was granted and they received $625,000 to help grow their San Diego, California business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender WILSHIRE STATE BANK This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 12/11/2003 Loan Approval Gross Amount $625,000 Loan Approval from the SBA Of the total $625,000 loan amount, the SBA guaranteed $468,750. 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 12 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. 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. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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 Los Angeles, California Banks for Small Business
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