Financing for Hotels and Motels

With these commercial loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $140,000 was given to a California entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Fresno, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Heritage Bank Of Commerce, based in San Jose, California.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
FRESNO, CA 93728

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113

This lender provides SBA loan for small businesses 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

7/22/2004

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Fresno CA, you ought to talk with a local Fresno SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fresno businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $140,000 loan. Remember, fight for what you want, and it will be yours!

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:

Small Business Credit Cards

Who Lends Money to Small Businesses in San Jose, California

SBA California Banks