Business Loans for Hotels and Motels

Looking for business loans for hotels and motels? An SBA loan may be just what you've been looking for. This $900,000 hotels and motels loan was issued by a California bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Sterling Savings Bank, out of Santa Rosa, California. The loan was granted and they received $900,000 to help grow their Big Bear City, California business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BIG BEAR CITY, CA 92314

SBA Loan Lender

STERLING SAVINGS BANK
801 FOURTH ST
SANTA ROSA, CA 95404

At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program is designed to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/29/2004

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $900,000. How would you spend $900,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Microlending as a Small Business Funding Source

Good Banks for Small Business in Santa Rosa, California

SBA Participating Banks in California