Heritage Oaks Bank SBA Loan to Hotels And Motels Company
Heritage Oaks Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Cayucos, California was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Heritage Oaks Bank, operating out of Atascadero, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
CAYUCOS, CA 93430
SBA Loan Lender
HERITAGE OAKS BANK
9900 EL CAMINO REAL
ATASCADERO, CA 93422
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
8/10/2001
Loan Approval Gross Amount
$97,000
Loan Approval from the SBA
Of the total $97,000 loan amount, the SBA guaranteed $82,450.
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 did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
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Who Lends Money to Small Businesses in Atascadero, California
SBA California Lenders