Raising Money for Hotels and Motels

With these bank loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,333,000 was given to a Washington entrepreneur in 2002.

Getting a small business loan in Bellingham, Washington was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Community W. Bank, operating out of Goleta, California. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BELLINGHAM, WA 98225

SBA Loan Lender

COMMUNITY W. BANK
5827 HOLLISTER AVE
GOLETA, CA 93117

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/27/2002

Loan Approval Gross Amount

$1,333,000

Loan Approval from the SBA

Of the total $1,333,000 loan amount, the SBA guaranteed $999,750.

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 9 employees. The loan application indicated that the loan would help retain 9 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Bellingham WA, you ought to talk with a local Bellingham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bellingham businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community W. Bank 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.

Related Links:

How to Raise Money

SBA Banks in Goleta, California

SBA Lenders in California