Business Loans for Hotels and Motels
Looking for business loans for hotels and motels? The SBA may be the answer. This $825,000 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 San Luis Obispo, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Heritage Bank Of Commerce, based in San Jose, California.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
SAN LUIS OBISPO, CA 93405
SBA Loan Lender
HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
4/22/2003
Loan Approval Gross Amount
$825,000
Loan Approval from the SBA
Of the total $825,000 loan amount, the SBA guaranteed $618,750.
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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.
Start the Process for Getting an SBA Loan Today!
Every year, the SBA guarantees over $10 billion for loans just like this one.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Heritage Bank Of Commerce that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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.
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