Escondido, California Bank Gives SBA Loan to Hotels And Motels Company

Want to talk with an Escondido, California bank about an SBA loan? Here's one California business loan, issued by an Escondido bank, that was approved by the SBA.

Applying for an SBA loan with Pacific Western Bank worked out well for our friends at one local firm in Cabazon, California. The business was able to get an SBA loan for $1,262,000. Nice!

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CABAZON, CA 92587

SBA Loan Lender

PACIFIC WESTERN BANK
900 CANTERBURY PL
ESCONDIDO, CA 92025

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

7/11/2003

Loan Approval Gross Amount

$1,262,000

Loan Approval from the SBA

Of the total $1,262,000 loan amount, the SBA guaranteed $946,500.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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