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April 27, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Los Angeles, Business Loans > Pacific City Bank Los Angeles Business Loans > Hotels And Motels Loan | ||||
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Pacific City Bank Business Loan
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Pacific City Bank SBA Loan to Hotels And Motels CompanyPacific City Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Carolina entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Charlotte, North Carolina, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Pacific City Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender PACIFIC CITY BANK This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 8/21/2006 Loan Approval Gross Amount $1,950,000 Loan Approval from the SBA Of the total $1,950,000 loan amount, the SBA guaranteed $1,462,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 16 employees. This SBA loan request indicated that the loan would help retain 16 existing jobs. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Pacific City Bank 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. Related Links: Raising VC Money for Social Networking Companies Good Banks for Small Business in Los Angeles, California
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