SBA Loan from First Bank Helps Hotels And Motels Company

First Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First Bank, out of Creve Coeur, Missouri. The loan was granted and they received $990,000 to help grow their Anaheim, California business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ANAHEIM, CA 92867

SBA Loan Lender

FIRST BANK
11901 OLIVE BLVD
CREVE COEUR, MO 63141

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/10/2001

Loan Approval Gross Amount

$990,000

Loan Approval from the SBA

Of the total $990,000 loan amount, the SBA guaranteed $742,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Anaheim CA, you ought to talk with a local Anaheim SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Anaheim businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Equity Financing

Best Banks for Small Business in Creve Coeur, Missouri

Missouri SBA 7A Lenders