Raising Money for Hotels and Motels

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 $245,600 was given to an Arizona entrepreneur in 2002.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Sterling Savings Bank, out of Santa Rosa, California. The loan was granted and they received $245,600 to help grow their Snowflake, Arizona business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SNOWFLAKE, AZ 85937

SBA Loan Lender

STERLING SAVINGS BANK
801 FOURTH ST
SANTA ROSA, CA 95404

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

8/9/2002

Loan Approval Gross Amount

$245,600

Loan Approval from the SBA

Of the total $245,600 loan amount, the SBA guaranteed $184,200.

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 3 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

This SBA loan was for $245,600. How would you spend $245,600 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Advice on Getting a Small Business Loan

Find an SBA Lender in Santa Rosa, California

Find an SBA Lender in California