Hotels and Motels Business Loans

With these business loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $700,000 was given to a California entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Barstow, California was able to borrow $700,000 from Pacific City Bank. The SBA made the loan possible by guaranteeing $525,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BARSTOW, CA 92311

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

10/21/2004

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Pacific City Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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