Financing for Bed-and-Breakfast Inns

With these commercial loans for bed-and-breakfast inns, the SBA guarantees the lender that the loan will be repaid. This bed-and-breakfast inns loan for $1,333,300 was given to an Oregon entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Arch Cape, Oregon was able to borrow $1,333,300 from Pacific Western Bank. The SBA made the loan possible by guaranteeing $999,975 of this Oregon small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
ARCH CAPE, OR 97102

SBA Loan Lender

PACIFIC WESTERN BANK
900 CANTERBURY PL
ESCONDIDO, CA 92025

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

6/17/2003

Loan Approval Gross Amount

$1,333,300

Loan Approval from the SBA

Of the total $1,333,300 loan amount, the SBA guaranteed $999,975.

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 2 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Pacific Western Bank and they will explain how you can get an SBA loan for your company.

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:

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