Business Loan from Heritage Bank Of Commerce Given to Hotels And Motels Company

An SBA loan from Heritage Bank Of Commerce typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Berkeley, California business owner got a $1,575,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Berkeley, California was able to borrow $1,575,000 from Heritage Bank Of Commerce. The SBA made the loan possible by guaranteeing $1,181,250 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BERKELEY, CA 94703

SBA Loan Lender

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

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

3/17/2006

Loan Approval Gross Amount

$1,575,000

Loan Approval from the SBA

Of the total $1,575,000 loan amount, the SBA guaranteed $1,181,250.

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 documents indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Heritage Bank Of Commerce so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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