San Jose, California Bank Lends Money to Hotels And Motels Company in South Lake Tahoe, California
Thinking about meeting with a San Jose, California bank about an SBA loan? Here's one California business loan, issued by a San Jose bank, that was approved by the SBA.
Applying for an SBA loan with Heritage Bank Of Commerce worked out well for our friends at one local firm in South Lake Tahoe, California. The business was able to get an SBA loan for $740,000. Great job!
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
SOUTH LAKE TAHOE, CA 96150
SBA Loan Lender
HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
8/13/2001
Loan Approval Gross Amount
$740,000
Loan Approval from the SBA
Of the total $740,000 loan amount, the SBA guaranteed $555,000.
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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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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