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January 22, 2025 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Hanmi Bank Los Angeles Business Loans > Hotels And Motels Loan | ||||
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SBA Lenders for Bakersfield, California Small Businesses
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Where to Get Capital for Hotels and MotelsLooking for SBA loans for hotels and motels? Talk to a banker who works with the SBA. This $900,000 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 Bakersfield, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Hanmi Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender HANMI BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 8/16/2002 Loan Approval Gross Amount $900,000 Loan Approval from the SBA Of the total $900,000 loan amount, the SBA guaranteed $675,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 22 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Hanmi 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: Find an SBA Lender in Los Angeles, California Getting an SBA Loan in California
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