California Business Loan Issued to Hotels And Motels Company

SBA loans in California are hard to find these days. We take a look at one California SBA loan, provided by a California bank, that was approved by the SBA.

By giving the right information to Pacific Western Bank, this Chula Vista, California business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CHULA VISTA, CA 91911

SBA Loan Lender

PACIFIC WESTERN BANK
900 CANTERBURY PL
ESCONDIDO, CA 92025

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

2/21/2002

Loan Approval Gross Amount

$1,333,300

Loan Approval from the SBA

Of the total $1,333,300 loan amount, the SBA guaranteed $999,975.

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 6 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Chula Vista CA, you ought to talk with a local Chula Vista SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chula Vista businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pacific Western Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pacific Western Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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