Loan Census Banking News and Information
February 4, 2023  
 
 
  Business Loan Information  
 

SBA Lender Ridgecrest California

 

 
Loan Census SBA Loan Info

Hotels and Motels Commercial Loans

Looking for commercial loans for hotels and motels? An SBA loan may be just what you've been looking for. This $427,500 hotels and motels loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Ridgecrest, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Alliance Bank, based in Culver City, California.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
RIDGECREST, CA 93555

SBA Loan Lender

ALLIANCE BANK
100 CORPORATE POINTE
CULVER CITY, CA 90230

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

721110 - Hotels and Motels

Loan Approval Date

12/17/2007

Loan Approval Gross Amount

$427,500

Loan Approval from the SBA

Of the total $427,500 loan amount, the SBA guaranteed $320,625.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Ridgecrest or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Role of Business Plan When Raising Money

Who Lends Money to Small Businesses in Culver City, California

Getting an SBA Loan in California