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April 20, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Redlands, Business Loans > 1st Centennial Bank Redlands Business Loans > Econo Lodge Loan | ||||
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Raising Money in Costa Mesa, California With SBA Loans
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1st Centennial Bank Provides SBA Loan to Buy Econo Lodge Motel FranchiseBorrowing money to buy an Econo Lodge Motel franchise? 1st Centennial Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Costa Mesa, California needed money to invest in an Econo Lodge Motel franchise back in 2000. 1st Centennial Bank issued an SBA franchise loan. Here are the details on this California small business loan. SBA Loan Borrower ECONO LODGE SBA Loan Lender 1ST CENTENNIAL BANK 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. SIC Code 7011 - Hotels and Motels Loan Approval Date 5/10/2000 Loan Approval Gross Amount $985,000 Loan Approval from the SBA Of the total $985,000 loan amount, the SBA guaranteed $738,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy an Econo Lodge Motel franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Best Banks for Small Business in Redlands, California Getting an SBA Loan in California
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