Financing for Hotels and Motels

Looking for commercial loans for hotels and motels? An SBA loan may be just what you've been looking for. This $307,100 hotels and motels loan was issued by a California bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Borrego Springs Bank, out of Borrego Springs, California. The loan was granted and they received $307,100 to help grow their Bridgeport, California business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BRIDGEPORT, CA 93517

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/11/2003

Loan Approval Gross Amount

$307,100

Loan Approval from the SBA

Of the total $307,100 loan amount, the SBA guaranteed $230,325.

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 6 employees. The loan application indicated that the loan would help retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Borrego Springs 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:

Borrowing Money from Friends and Family

SBA 7A Banks for Borrego Springs, California Loans

California SBA 7A Banks