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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Heritage Bank Of Commerce San Jose Business Loans > Hotels And Motels Loan | ||||
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San Jose, California Bank for SBA Loans
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San Jose, California Bank Gives SBA Loan to Hotels And Motels CompanyThinking 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 company in Chico, California. They received an SBA loan for $300,000. Way to go! SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender HERITAGE BANK OF COMMERCE 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 12/11/2002 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. 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 SBA loan documents indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Business Banks in San Jose, California
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