Commercial Loans for Hotels and Motels

Looking for commercial loans for hotels and motels? The SBA may be the answer. This $895,800 hotels and motels loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakewood, Washington was able to borrow $895,800 from Temecula Valley Bank. The SBA made the loan possible by guaranteeing $671,850 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
LAKEWOOD, WA 98499

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

When this loan was made, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to give expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/20/2003

Loan Approval Gross Amount

$895,800

Loan Approval from the SBA

Of the total $895,800 loan amount, the SBA guaranteed $671,850.

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 7 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Temecula Valley 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:

Obtaining Funding - How to Decide How Much to Raise

SBA Participating Banks in Temecula, California

Getting an SBA Loan in California