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May 2, 2024 |
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| Home > Small Business Lenders by State > Colorado 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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Hotels and Motels SBA LoansLooking for SBA loans for hotels and motels? Try the SBA. This $75,000 hotels and motels loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sterling, Colorado was able to borrow $75,000 from Wilshire State Bank. The SBA made the loan possible by guaranteeing $56,250 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender WILSHIRE STATE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 11/23/2005 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $56,250. 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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wilshire State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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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