Financing for Hotels and Motels

Looking for loans for hotels and motels? An SBA loan may be just what you've been looking for. This $440,000 hotels and motels loan was issued by a California bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Borrego Springs Bank, out of La Mesa, California. The loan was granted and they received $440,000 to help grow their Biloxi, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BILOXI, MS 39531

SBA Loan Lender

BORREGO SPRINGS BANK
7777 ALVARADO RD, STE 114
LA MESA, CA 91941

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

9/27/2002

Loan Approval Gross Amount

$440,000

Loan Approval from the SBA

Of the total $440,000 loan amount, the SBA guaranteed $330,000.

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 2 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks in La Mesa, California

Where to Get an SBA Loan California