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March 28, 2024  
 
 
  Business Loan Information  
 

SBA Lender Folsom California

 

 
Loan Census SBA Loan Info

Business Loans for Bed-and-Breakfast Inns

Looking for business loans for bed-and-breakfast inns? The SBA may be the answer. This $1,197,500 bed-and-breakfast inns loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Folsom, California was able to borrow $1,197,500 from Bank Of The West. The SBA made the loan possible by guaranteeing $898,125 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
FOLSOM, CA 95630

SBA Loan Lender

BANK OF THE WEST
10181 TRUCKEE TAHOE AIRPORT R
TRUCKEE, CA 96161

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

721191 - Bed-and-Breakfast Inns

Loan Approval Date

9/22/2004

Loan Approval Gross Amount

$1,197,500

Loan Approval from the SBA

Of the total $1,197,500 loan amount, the SBA guaranteed $898,125.

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 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of The West and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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