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April 20, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Escondido, Business Loans > Pacific Western Bank Escondido Business Loans > Hotels And Motels Loan | ||||
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Pomona, California Bank Loan
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Hotels and Motels LoansLooking for loans for hotels and motels? Talk to a banker who works with the SBA. This $1,000,000 hotels and motels loan was issued by a California bank. This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Pacific Western Bank, out of Escondido, California. The loan was granted and they received $1,000,000 to help grow their Pomona, California business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender PACIFIC WESTERN BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 3/13/2000 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. 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 2 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Pacific Western Bank 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. Related Links: Obtaining Funding - How to Borrow Money SBA 7A Banks in Escondido, California
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