Hotels and Motels SBA Loans

Looking for SBA loans for hotels and motels? Talk to a banker who works with the SBA. This $8,000 hotels and motels loan was issued by a California bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Mission Community Bank, out of San Luis Obispo, California. The loan was granted and they received $8,000 to help grow their Cayucos, California business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CAYUCOS, CA 93430

SBA Loan Lender

MISSION COMMUNITY BANK
581 HIGUERA ST
SAN LUIS OBISPO, CA 93401

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/18/2005

Loan Approval Gross Amount

$8,000

Loan Approval from the SBA

Of the total $8,000 loan amount, the SBA guaranteed $4,000.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Mission Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Loan

SBA Banks in San Luis Obispo, California

California SBA 7A Lenders