Bank Loans for Bed-and-Breakfast Inns
With these bank loans for bed-and-breakfast inns, the SBA guarantees the lender that the loan will be repaid. This bed-and-breakfast inns loan for $175,000 was given to a California entrepreneur in 2004.
This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Heritage Bank Of Commerce, out of San Jose, California. The loan was granted and they received $175,000 to help grow their Pacific Grove, California business.
SBA Loan Borrower
COMPANY TYPE: BED-AND-BREAKFAST INNS
PACIFIC GROVE, CA 93950
SBA Loan Lender
HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721191 - Bed-and-Breakfast Inns
Loan Approval Date
7/12/2004
Loan Approval Gross Amount
$175,000
Loan Approval from the SBA
Of the total $175,000 loan amount, the SBA guaranteed $131,250.
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 SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.
Start the Process for Getting an SBA Loan Today!
If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
How to Raise Money
SBA Approved Banks in San Jose, California
SBA Participating Banks in California