Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Banks Doing SBA Loans in California

 

 
Loan Census SBA Loan Info

San Jose, California Lender Lends Money to Hotels And Motels Company

Get SBA loans from a San Jose, California bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Heritage Bank Of Commerce is a San Jose, California small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a California company.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CRESCENT CITY, CA 95531

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

6/17/2002

Loan Approval Gross Amount

$1,267,500

Loan Approval from the SBA

Of the total $1,267,500 loan amount, the SBA guaranteed $950,625.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $1,267,500. How would you spend $1,267,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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